SEBI Circular: SEBI/HO/CDMRD/DMP/CIR/P/2016/105 dated September 28, 2016
1. Pursuant to the repeal of the Forward Contracts (Regulation) Act, 1952 (FCRA) and amendment to the Securities Contracts (Regulation) Act, 1956 (SCRA), the Central Government, in exercise of the powers conferred by clause (bc) of section 2 of the SCRA and in consultation with the SEBI, have vide Notification No. S.O. 3068(E) dated September 27, 2016 notified the goods specified therein, for the purpose of clause (bc) of section 2 of the SCRA with effect from the date of the said notification.
2. The commodity derivatives contracts which are being traded on the commodity derivatives exchanges shall continue to be traded under the provisions of SCRA, 1956 and the Rules and Regulations made thereunder.
4. The Exchanges are advised to:
a. take steps to make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the same.
b. bring the provisions of this circular to the notice of the members of the Exchange and also to disseminate the same on their website.
c. communicate to SEBI, the status of the implementation of the provisions of this circular.
5. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.