Forward Contracts Bill introduced in LS

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New Delhi, Mar 13 (UNI) The government today introduced in the Lok Sabha the Forward Contracts (Regulation) Amendment Bill, 2008, seeking to replace an ordinance.

Under the proposed move, the government would have powers to issue directions to the Commission on policy matters and supersede the Commission in certain cases.

The number of the Commission's members would be increased from four to nine, of whom three would be whole-time members and a Chairman.

Forward contract would include commodity derivatives and the new law would have expressions such as corporatisation, demutualisation and intermediary.

UNI SN Mir AS1413

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