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The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (i)

PUBLISHED BY AUTHORITY

No. 70] NEW DELHI, TUESDAY, MARCH 22,1966/CHAITRA 1,1888

Separate paging is given to this Part in order that it may be filed as a separate compilation.

MINISTRY OF COMMERCE NOTIFICATIONS New Delhi, the 22nd March 1966

S.O. 957.—Whereas forward contracts for the sale or purchase of art silk yarn have been prohibited under the Notification of the Government of India in the late Ministry of Commerce and Industry S.O. No. 3797 dated the 17th Decem- ber, 1962;

And whereas the Central Government is of the opinion that in the interest of the trade and in the public interest It is expedient to regulate and control non- transferable specific delivery contracts in respect of art silk yarn imported into India;

Now, therefore, in exercise of the powers conferred by sub-section (3) of section 18 of the Forward Contracts (Regulation) Act, 1952 (74 of 1952), the Central Government hereby declares that the provisions of section 17 shall apply to non-transferable specific delivery contracts in respect of art silk yarn imported into India, in the whole of India:

Provided that the provisions of sub-section (3) of section 17 shall not apply to any non-tranaferable specific delivery contract for the sale or purchase of the aforesaid goods, which provides for shipment upto the date of this Notification. [No. 32(24)-Com(Genl)(FMC)/65-I.lS.O. 958.—In exercise of the powers conferred by sub-section (1) of section 17 read with section 16 of the Forward Contracts (Regulation) Act, 1952 (74 of 1952), as applied to non-transferable specific delivery contracts in respect of art silk yarn imported into India by the Notification of the Government of India in the Ministry of Commerce No. 32(24)-ComGenl) (FMC) /65-I dated the 22nd March 1966, the Central Government hereby declares that no person shall, stive with the permission of the Central Government, enter into any non-transferable specific ( 553 )

delivery contract, for the sale or purchase of art silk yarn imported Into India, In the whole of India and fixes under clause (a) of the said section 16, the price' fixed by the contract aa the rate at which any such non-transferable specific delivery contract entered Into on or before the date of publication of this Notifica- tion and remaining to be performed afte^ thp said date shall be deemed to be closed:

Provided that nothing in this Notification In so far as it relates to closing of any such non-transferable spe?lftc delivery contract shall apply to any such contract-which provides for shipment upto the date of this Notification.

[No. 32(24)-Com(Genl)(FMC)/65-Il.l

S.O. 959.—In exercise of the powers conferred by section 27 of the Forward Contracts (Regulation) Act, 1952 (74 of 1992), the Central Government heroby exempts every forward contract into for the impo t of avt silk yarn into India from the operation of section 17 of the said Act.

[No. 32(24)-Com(Genl) (FMC) /65-II1.1

MCO.—In exercise of the powers conferred by section 27 cf the Forward Contracts (Regulation) Act, 1952 (74 of 1952), the Central Government hereby exempts every non-transferable specific de'ivery contract entered into by (i) The State Trading Corporation of India Ltd., (11) Messrs. Reyex (India) Private Ltd.. Bombay, and (iii) Association of Man-Made Fibre Industry, Bombay for the sale of art silk yarn imported into India from the operation of section 17 of the said Act.

[No, 32(24)-Com(Genl) (FMO/65-IV.J P. K. J. MENON, Jt. Secy,PHINTJD IN INDIA BY THE QCNERAL MANAGER, GOVERNMENT OP INDIA PRESS, NEW DELHI AND PUBLTSHKD BY THE MANAGER OF PUBLIC ATKINS, UEI HI, 1 MbO