Forward Contracts (Regulation) Act : Power to suspend business of recognised associations. Indian Bare

Forward Contracts (Regulation) Act,1952

Act No : 74

Section : Power to suspend business of recognised associations.

14.Power to suspend business of recognised associations. If in the interest of the trade or in the public interest the Central Government considers it expedient so to do, it may, by notification in the Official Gazette, direct a recognised association to suspend such of its business for such period not exceeding seven days and subject to such conditions as may be specified in the notification, and may if, in the opinion of the Central Government, the interest of the trade or the public interest so requires by like notification extend the said period from time to time: Provided that where the period of suspension is likely to exceed one month, no notification extending the suspension beyond such period shall be issued, unless the governing body of the recognised association has been given an opportunity of being heard in the matter.