Power to suspend membership enables regulator to bar a member from trading in forward contracts after a hearing. The Commission may, if in the interest of trade or the public interest, suspend a member's membership of a recognised association or prohibit the member from entering into forward contracts after giving an opportunity to be heard. An order must specify the period of suspension or prohibition, extendable but not exceeding three years in the aggregate, and does not affect the validity of existing forward contracts, though the Commission may provide for their closing out.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Power to suspend membership enables regulator to bar a member from trading in forward contracts after a hearing.
The Commission may, if in the interest of trade or the public interest, suspend a member's membership of a recognised association or prohibit the member from entering into forward contracts after giving an opportunity to be heard. An order must specify the period of suspension or prohibition, extendable but not exceeding three years in the aggregate, and does not affect the validity of existing forward contracts, though the Commission may provide for their closing out.
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