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of <h1>Amendment Introduces Section 28A: Transition of Associations to Deemed Stock Exchanges, Regulates Commodity Derivatives Activities.</h1> The Forward Contracts (Regulation) Act, 1952, has been amended to include a new section 28A, which addresses the transition of recognized associations to deemed stock exchanges under the Securities Contracts (Regulation) Act, 1956. These associations are restricted to activities related to commodity derivatives until authorized by the Securities and Exchange Board of India (SEBI). Brokers and intermediaries in the commodity derivatives market can continue operations temporarily without registration. SEBI may allow these exchanges time to comply with relevant regulations. Existing bye-laws and instruments remain effective for one year post-repeal of the Forward Contracts Act or until further notice by SEBI.
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