Section 15 in The Bombay Forward Contracts Control Act, 1947
15. Savings.
(1)Nothing in this Act or any repeal effected thereby shall affect or be deemed to affect(a)the terms and incidents of any forward contracts in cotton or securities entered into or made before the date on which the provisions of this Act come into force and to which the Acts hereby repealed applied;(b)the terms and incidents of any options in cotton entered into or made before the date on which the Bombay Options in Cotton Prohibition Ordinance, 1939 (Bombay Ordinance II of 1939), came into force;(c)the validity, invalidity, effect or consequences of anything already done or suffered, in case of such contracts before the coming into force of the provisions of this Act, and in the case of such options before the date of the coming into force of the said Ordinance;(d)any right, title, obligation or liability already acquired, accrued or incurred in regard to such contracts before the date of the coming into force of the provisions of this Act, and in regard to such options before the date of the coming into force of the said Ordinance;(e)any remedy or proceeding in respect of such right, title, obligation or liability;(f)anything done in the course of any proceeding pending in any Court, in case of such contracts on the date of the coming into force of the provisions of this Act and in the case of such options on the date of the coming into force of the said Ordinance, and any such remedy or proceeding may be enforced, instituted or continued, as the case may be, as if this Act had not been passed.(2)The provisions of sub-section (1) shall apply to forward contracts for the purchase or sale of any other goods to which the provisions of this Act may, from time to time, be applied under sub-section (3) of Section 1 entered into or made before the date on which a notification in respect of such goods may be published under the said sub-section.
