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of <h1>Finance Bill 2015: Sections 29A and 29B Repeal Forward Contracts Act and Transfer Powers to Securities Board</h1> Sections 29A and 29B are introduced in the Forward Contracts (Regulation) Act, 1952, as part of the Finance Bill, 2015. Section 29A repeals the Forward Contracts Act, dissolving authorities established under it, while allowing the Security Board to continue actions and proceedings as if the Act were still in force. Section 29B transfers the Commission's undertaking to the Securities and Exchange Board of India, including employees and benefits. Employees may opt out within six months, and no compensation is available for loss of office. The transfer is exempt from stamp duty.
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