In exercise of the powers conferred by Section 131 and 133 of the Finance Act, 2015, the Central Government vide Notification SO 2362 (E), dated 28.08.2015, has notified that the provisions of Part I (excluding Section 132) and Part II of Chapter VIII of the said Act shall come into force with effect from 28.09.2015 . As per the provisions of the Notification, the Securities and Exchange Board of India shall also regulate the Commodity Derivatives Markets with effect from 28th September 2015.
Vide a separate Notification SO 2363 (E) dated 28.08.2015, in exercise of the powers conferred by Section 131 of the Finance Act, 2015, the Central Government has notified that Section 132 of the said Act shall come into force with effect from 29.09.2015. As per the provisions of this Notification, the Forward Contracts (Regulation) Act, 1952 shall stand repealed and the Forward Markets Commission shall stand dissolved with effect from 29th September 2015.
(V. C. Chaturvedi)