Cabinet gives nod to amendments in Bill on Forward Contracts

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New Delhi, Aug 8 (UNI) The Union Cabinet today gave its approval for moving certain official amendments to the Forward Contracts (Regulation) Amendment Bill 2008 pending in the Lok Sabha.

The amendments would delete the redundant provisions of the Bill and enable the Parliament to consider and pass it, said Union Science and Technology Minister Kapil Sibal, while briefing newspersons.

The Bill seeks to provide greater autonomy to commodities market regulator Forward Markets Commission (FMC) and enable trading in commodity-related intangibles like commodity options.

UNI MMG SK DS1513

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