Section 5(2) in Forward Contracts (Regulation) Act, 1952
(2)Every application made under sub-section (1) shall contain such particulars as may be prescribed and shall be accompanied by a copy of the bye-laws for the regulation and control of forward contracts and also a copy of the rules relating in general to the constitution of the association, and, in particular to--(a)the governing body of such association, its constitution and powers of management and the manner in which its business is to be transacted;(b)the powers and duties of the office-bearers of the association;(c)the admission into the association of various class of members, the qualifications of members, and the exclusion, suspension, expulsion and readmission of members therefrom or therein to;(d)the procedure for registration of partnerships as members of the association and the nomination and appointment of authorised representatives and clerks. 6 Grant of recognition to association.-
