Section 18(1) in Forward Contracts (Regulation) Act, 1952
(1)Nothing contained in Chapter III or Chapter IV shall apply to nontransferrable specific delivery contracts for the sale or purchase of any goods: Provided that no person shall organise or assist in organising or be a member of any association in any area to which the provisions of Sec. 15 have been made applicable (other than a recognised association) which provides facilities for the performance of any non-transferable specific delivery contract by any party thereto without having to make or receive actual delivery to or from the other party to the contract or to or from any other party named in the contract.
