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of <h1>Government Can Replace Association's Governing Body for Six Months Under Forward Contracts Regulation Act, 1952</h1> The Central Government has the authority to supersede the governing body of a recognized association under the Forward Contracts (Regulation) Act, 1952. If deemed necessary, the government can issue a notification in the Official Gazette, replacing the governing body for up to six months after allowing the body to show cause. Appointed individuals assume the powers and duties of the superseded body, and relevant association property vests in them. The appointed individuals hold office for the specified period, and upon its conclusion, the association must reconstitute its governing body, at which point property reverts to the newly formed body.
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