Repeal of Forward Contracts Act transfers regulatory functions and assets to Securities Board, preserving proceedings and legal rights. The Forward Contracts (Regulation) Act is repealed while expressly preserving continuity: regulatory acts, licences, orders and pending enforcement actions continue to be enforced by the Securities Board as if repeal had not occurred; offences and existing proceedings remain governed by the repealed Act with a three year window to initiate fresh proceedings, and the General Clauses Act applies to residual matters. The Commission's undertaking, associated concessions and exemptions, and related causes of action vest in the Securities Board; employees (excluding members) transfer to the Central Government or Securities Board on existing terms, members cease to hold office, and no compensation claims for loss of office arising from dissolution are entertainable.