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The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 53] NEW DELHI, SATURDAY, FEBRUARY 5,1977/MAGHA 16,1898

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

MINISTRY OF CIVIL SUPPLIES AND COOPERATION

NOTIFICATIONS

New Delhi, the 5th February 1977

S.O. 138(E).—In exercise of the powers conferred by section 17, read withsection 18, of the Forward Contracts (Regulation) Act, 1952 (74 of 1952), the Central Government hereby declares that no person shall, save with the per- misBion of Central Government, enter into any forward contract for the sale or purchase of (i) linseed and (II) castorseed, in any place in India, and fixes, under clause (a) of the said section 16, the rate prevailing at the time at which the forward market in the said commodities closed on the date of this notifica- tion, or if there was no trading on that day, on the last preceding date of trad- ing, as the rate at which any such forward contract entered into on or before the date of this notification and remaining to be performed after the said date shall be deemed to be closed [No. 10(3)-IT/77] (405)

S.O. 139(E).—Whereas forward contracts for the sale or purchase of (i) linseed and (ii) castorseed, in any place in India have been prohibited by the notifica- tion of the Government of India in the Ministry of Civil Supplies and Co- operation No. 10(3)-IT/77 dated 5th February, 1977,

And Whereas the Central Government is of the opinion that In the interest of the trade and in t\e public Interest, it is expedient to regulate and control non- transferable specific delivery contracts in respect of the said commodities in the whole of India,

Now, Therefore, in exercise of the power3 conferred by sub-soctlon (3) of section 18 of the Forward Contracts (Regulation) Act, 1952 (74 of 1952), the Central Government hereby declares that the provisions of sub-sectiona (1) and (2) of section 17 of the said Act shall apply to non-transferable specific delivery contracts In respect of the said commodities in the whole of India.

[No. 10(3)-IT/77]

B. N. JAYASIMHA, Jt. Secy.