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<h1>Central Government Can Declare Forward Contracts Illegal in Specific Areas Under Section 15 of the Forward Contracts Act.</h1> Section 15 of the Forward Contracts (Regulation) Act, 1952, empowers the Central Government to declare specific goods or areas where forward contracts are illegal unless conducted between members of a recognized association. Contracts violating specified bye-laws are void concerning the rights of association members or any participant aware of the contravention. Non-members unaware of the contravention retain enforcement rights. Contracts breaching bye-laws at the time of agreement are illegal. Members must disclose self-dealing in contracts with non-members, securing written consent within three days, except when closing out existing contracts per bye-laws.