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<h1>Repeal and vesting transfers the Forward Contracts Commission's undertaking to the Securities Board while preserving existing proceedings.</h1> The Forward Contracts (Regulation) Act, 1952 is repealed with savings preserving continuity: instruments, orders, licences, proceedings and offences under the repealed Act continue to be enforced by the Securities and Exchange Board of India as if the Act had not been repealed; fresh offence proceedings may be instituted by the Security Board within three years. The Commission's undertaking vests in the Security Board; related concessions and tax exemptions transfer; employees (excluding members) continue in office with the Central Government or Security Board on same terms, members cease to hold office and are not entitled to compensation; transfer is exempt from stamp duty.