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SEBI to regulate Commodity Derivatives Market from Sept 28

By TIOL News Service

NEW DELHI, SEPT 02, 2015: THE Union Government has appointed September 28, 2015 as the date on which Regulation of Commodity Derivatives Market will shift to Securities and Exchange Board of India (SEBI) under Securities Contracts Regulation Act (SCRA) 1956 with effect from 28th September, 2015. As a result, Forward Contracts Regulation Act (FCRA) 1952 gets repealed.

This action has been taken in order to comply with the announcement made by the Union Finance Minister during his Budget Speech while presenting the General Budget 2015-16. The Finance Minister had proposed to merge the Forwards Markets Commission (FMC) with SEBI to strengthen the regulation of Commodity Forward Markets. Enabling legislation, amending the Securities Contracts Regulation Act (SCRA) 1956 and FCRA 1952 were proposed in the Finance Act, 2015.


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