Repeal of forward contracts law preserves enforcement and transfers ongoing obligations and prosecutions to the Security Board. The section repeals the Forward Contracts Act while preserving enforcement and legal continuity by: revoking subordinate rules, dissolving authorities, enabling the Security Board to continue and enforce acts, instruments and licences made under the repealed Act as if it remained in force, maintaining governance of offences and existing proceedings under the repealed Act, permitting fresh proceedings within a three-year window, restricting courts from taking new cognizance except as provided, and preserving the General Clauses Act effect where not otherwise addressed.
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.
Repeal of forward contracts law preserves enforcement and transfers ongoing obligations and prosecutions to the Security Board.
The section repeals the Forward Contracts Act while preserving enforcement and legal continuity by: revoking subordinate rules, dissolving authorities, enabling the Security Board to continue and enforce acts, instruments and licences made under the repealed Act as if it remained in force, maintaining governance of offences and existing proceedings under the repealed Act, permitting fresh proceedings within a three-year window, restricting courts from taking new cognizance except as provided, and preserving the General Clauses Act effect where not otherwise addressed.
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