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    <description>Section 3 authorises the Central Government to establish the Forward Markets Commission by notification and prescribes its composition of two to four members with one nominated as Chairman, who may be whole-time or part-time. Appointees must possess ability, integrity and relevant commercial or administrative experience; persons with disqualifying financial or other interests are barred and must disclose information on request. Members serve a maximum three year term, are eligible for reappointment, and other service conditions are to be prescribed.</description>
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