Prohibition of forward contracts: unauthorized agreements become illegal while transitional rules preserve treatment of existing contracts. Central Government may, by notification, prohibit entry into forward contracts for specified goods except with permission and as specified; contracts made after publication without permission are illegal; absent contrary provision in the notification, prior statutory rules continue to apply to forward contracts entered into before the notification and remaining to be performed afterward, preserving transitional treatment for pre-existing contracts.
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.
Prohibition of forward contracts: unauthorized agreements become illegal while transitional rules preserve treatment of existing contracts.
Central Government may, by notification, prohibit entry into forward contracts for specified goods except with permission and as specified; contracts made after publication without permission are illegal; absent contrary provision in the notification, prior statutory rules continue to apply to forward contracts entered into before the notification and remaining to be performed afterward, preserving transitional treatment for pre-existing contracts.
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