TABLE - Commodities to which sec. 15 have been applied thereby rendering illegal all forward contracts except those entered into between members of a recognised association or through or with such a member.
Forward Contracts (Regulation) Rules, 1954
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Prohibition on forward contracts limited to recognised association trading; specific exemptions for jute TSD, pepper futures and export contracts. A broad prohibition on forward contracts is applied to numerous commodities under the Forward Contracts (Regulation) Rules, with legality limited to ... Summary
Prohibition on forward contracts limited to recognised association trading; specific exemptions for jute TSD, pepper futures and export contracts.
A broad prohibition on forward contracts is applied to numerous commodities under the Forward Contracts (Regulation) Rules, with legality limited to contracts between or through members of a recognised association. Key exemptions include TSD contracts for jute imports in Calcutta, permitted TSD trading in raw jute and related products, international futures trading in pepper allowing foreign parties, and export contracts between Indian exporters and foreign importers. Associations may only regulate forward trading if operating under a regulator-issued certificate of registration.
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