Section 36 in The Forward Contracts (Regulation) Act, 1952
36. [ 28A Power to make regulations. —(1) The Commission may, by notification, make regulations consistent with this Act and rules made thereunder to carry out the purposes of this Act.
(2)In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:—(a) the time and places of meetings of the Commission and the procedure to be followed at such meetings under section 3D including quorum necessary for the transaction of business;(b)the terms and other conditions of service of officers and employees of the Commission under sub-section (2) of section 3H;(c)the manner in which the fresh issue of equity shares shall be made to the public under sub-section (8) of section 7B;(d)the conditions of certificate of registration to act as a member or intermediary to deal with forward contract or option in goods or options in commodityderivative under sub-section (1) of section 14A;(e)the fee for a class or classes of member or intermediary under the second proviso to sub-section (2) of section 14A;(f)the terms and conditions subject to which registration may be granted under sub-section (4) of section 14A;(g)the manner in which the certificate of registration may be suspended or cancelled under section 14B;(h)any other matter relating to trading, clearing, settlement, and delivery of goods, forward contract, option in goods or option in commodity derivative.(3)Every regulation made under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the regulation or both Houses agree that the regulation should not be made, the regulation shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that regulation.
