The Forward Contracts (Regulation) Act, 1952
Central Act · Act 74 of 195243 provisions4 citing judgments
The enactment
| Long title | An Act to provide for the regulation of certain matters relating to forward contracts, the prohibition of options in goods and for matters connected therewith. |
|---|---|
| Type | Act |
| Citation | Act 74 of 1952 |
| Year | 1952 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 43 |
| Subjects | taxation |
Full text, provision by provision
Every provision below opens in full, free and without an account.
- Section 1 Short title, extent and commencement.
- Section 2 Definitions.
- Section 3 Establishment and constitution of the Forward Markets Commission.
- Section 4 Functions of the Commission.2 citing judgments
- Section 4A Powers of the Commission.
- Section 5 Application for recognition of associations.
- Section 6 Grant of recognition to association.
- Section 7 Withdrawal of recognition.
- Section 8 Power of Central Government to call for periodical returns or direct inquiries to be made.
- Section 9 Furnishing of annual reports to the Central Government by recognised associations.
- Section 9A Power of recognised association to make rules respecting grouping of members, restricting voting rights, etc., in special cases.
- Section 10 Power of Central Government to direct rules to be made or to make rules.
- Section 11 Power of recognised association to make bye-laws.
- Section 12 Power of Central Government to make or amend bye-laws of recognised associations.
- Section 12A Application of amendment of bye-laws to existing forward contracts.
- Section 12B Power of Commission to suspend member of recognised association or to prohibit him from trading.
- Section 13 Power of Central Government to supersede governing body of recognised association.
- Section 14 Power to suspend business of recognised association.
- Section 14A Certificate of registration to be obtained by all associations.
- Section 14B Grant or refusal of certificate of registration.
- Section 14C Application of sections 8 and 12B to registered associations.
- Section 15 Forward contracts in notified goods illegal or void in certain circumstances.
- Section 16 Consequences of notification under section 15.
- Section 17 Power to prohibit forward contracts in certain cases.
- Section 18 Special provisions respecting certain kinds of forward contracts.
- Section 19 Prohibition of options in goods.
- Section 20 Penalties.
- Section 21 Penalty for owning or keeping place used for entering into forward contracts in goods.
- Section 21A Power of court to order forfeiture of property.
- Section 22 Offences by companies.
- Section 22A Power to search and seize books of account or other documents.
- Section 22B Presumptions to be drawn in certain cases.
- Section 23 Certain offences to be cognizable.1 citing judgment
- Section 24 Jurisdiction to try offences under this Act.
- Section 25 Advisory committee.
- Section 26 Power to delegate.
- Section 27 Power to exempt.1 citing judgment
- Section 27A Protection of action taken in good faith .
- Section 28 Power to make rules.
- Section 28A Savings of recognised associations.
- Section 29 Repeals and savings.
- Section 29A Repeal and savings.
- Section 29B Transfer and vesting of undertaking of Commission.
Find the provision, not just read it
The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:
- Search 49,000+ Central and State enactments by what a provision says, not by its number
- Jump from any section to every judgment that has applied it
- Search 300 million+ Indian court records alongside the statute
- Ask a research agent to find and read the case law on a provision for you
Free account. No card. About a minute to create.
Create a free accountNeed this as data, not as a page? The Forward Contracts (Regulation) Act, 1952 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.