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of <h1>SEBI to Assume Responsibilities of Forward Contracts Act After Repeal; Employees Retain Positions, No Compensation Due</h1> Upon the repeal of the Forward Contracts Act, 1952, the undertaking of the Commission will transfer to the Securities and Exchange Board of India (SEBI). Existing proceedings against the Commission may continue under SEBI. All benefits, exemptions, and privileges previously granted to the Commission will also transfer to SEBI. Employees of the Commission will retain their positions under the Central Government or SEBI, as notified, with the option to opt out within six months. No compensation is due for loss of office due to the Act's repeal, and the transfer is exempt from stamp duty. Members of the Commission will cease to hold office without compensation.
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