TMI BlogInsertion of new sections 29A and 29B- Repeal and savings, Transfer and vesting of undertaking of CommissionX X X X Extracts X X X X X X X X Extracts X X X X ..... Repeal and savings 29A.(1) The Forward Contracts (Regulation) Act, 1952 (74 of 1952) is hereby repealed. (2) On and from the date of repeal of Forward Contracts Act- (a) the rules and regulations framed by the Central Government and the Commission under the Forward Contracts Act, shall stand repealed; (b) all authorities and entities established by the Central Government under the Fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the provisions of that Act, as if that Act had not been repealed; (e) a fresh proceeding related to an offence under the Forward Contracts Act, may be initiated by the Security Board under that Act within a period of three years from the date on which that Act is repealed and be proceeded with as if that Act had not been repealed; (f) no court shall take cognizance of any offence under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enforced by or against the Security Board. (3) The concessions, privileges, benefits and exemptions including any benefits and exemptions with regard to the payment of any tax, duty and cess granted to the Commission with respect to its undertaking shall be transferred to the Security Board on the date on which the Forward Contracts Act is repealed. (4) Every employee holding any office (exc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (5) Within six months from the date on which the Forward Contracts Act is repealed, an employee of the Commission opting not to be an employee of the Central Government or the Security Board, as the case may be, shall communicate such decision to the Central Government or Security Board, as applicable. (6) Nothing contained in any other law in force shall entitle any employee to any compensa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (9) The transfer and vesting of the undertaking shall not be liable to the payment of any stamp duty under the Indian Stamp Act, 1899 (2 of 1899) or any applicable stamp duties under state laws. . ----------------- Notes: Notified Date is 29-9-2015 - Vide notification dated 28-8-2015 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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