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4. Functions of the Commission.-

The functions of the Commission shall be-

(a) to advise the Central Government in respect of the recognition of, or the withdrawal of recognition from, any association or in respect of any other matter arising out of the administration of this Act;

4[(b) to keep forward markets under observation and to take such action in relation to them as it may consider necessary, in exercise of the powers assigned to it by or under this Act;]

(c) to collect and whenever the Commission thinks it necessary publish information regarding the trading conditions in respect of goods to which any of the provisions of this Act is made applicable, including information regarding supply, demand and prices, and to submit to the Central Government periodical reports on the operation of this Act and on the working of forward markets relating to such goods;

(d) to make recommendations generally with a view to improving the organisation and working of forward markets;

(e) to undertake the inspection of the accounts and other documents of 5[any recognised association or registered association or any member of such association] whenever it considers it necessary; and

(f) to perform such other duties and exercise such other powers as may be assigned to the Commission by or under this Act, or as may be prescribed.

1. Subs. by Act 62 of 1960, s. 4, for "but not exceeding three" (w.e.f. 28-12-1960).

2. Subs. by Act 46 of 1953, s. 2, for certain words (w.e.f. 23-12-1953).

3. The proviso subs. by Act 62 of 1960, s. 4 (w.e.f. 28-12-1960).

4. Subs. by s. 5, ibid., for clause (b) (w.e.f. 28-12-1960).

5. Subs. by s. 5, ibid., for "any recognised association" (w.e.f. 28-12-1960).

Forward Contracts (Regulation) Act, 1952 Back

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