<h1>Government Repeals Forward Contracts Regulation Act 1952; Commodity Derivatives Market Now Under SEBI Regulation.</h1> The government announced the repeal of the Forward Contracts Regulation Act (FCRA) 1952, transferring the regulation of the commodity derivatives market to the Securities and Exchange Board of India (SEBI) effective September 28, 2015. This change, enabled by the Finance Act, 2015, aligns with the Union Finance Minister's proposal to merge the Forwards Markets Commission (FMC) with SEBI, aiming to enhance the regulation of commodity forward markets. The announcement follows the notification issued on August 28, 2015, specifying the implementation date and excluding Section 132 from the enactment.