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of <h1>Associations Must Follow Section 5 to Apply for Recognition Under Forward Contracts Regulation Act 1952</h1> Section 5 of the Forward Contracts (Regulation) Act, 1952, outlines the procedure for associations seeking recognition under the Act. Associations involved in regulating forward contracts must apply to the Central Government in a prescribed manner. The application must include specific details and be accompanied by the association's bye-laws and rules. These documents should cover the association's governing body's constitution, management powers, office-bearers' duties, membership qualifications, and procedures for member admission, exclusion, and re-admission. Additionally, it must address the registration of partnerships and the appointment of authorized representatives and clerks.
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