Date: 2015-09-28Category: Extra OrdinaryState: Union GovernmentCountry: India
In pursuance of the provision of section 132 of the Finance Act, 2015 read with the Ministry of Finance Notification S.O. 2363(E) dated 28 August 2015, the members of the Forward Markets Commission shall cease to hold office with effect from 29th September 2015.
**Policy Summary:**
This notification, S.O. 2643(E) and S.O. 2644(E), issued by the Ministry of Finance, Department of Economic Affairs, Commodity Derivatives Markets Division, on September 28, 2015, announces the cessation of the Forward Markets Commission (FMC) members' terms of office, effective September 29, 2015. This action is in pursuance of Section 132 of the Finance Act, 2015, read with Ministry of Finance Notification S.O. 2363(E) dated August 28, 2015.
Specifically, the notification relieves Sh. Ramesh Abhishek, IAS, from his duties as Chairman of the Forward Markets Commission, Mumbai, effective the afternoon of September 28, 2015. It also relieves Sh. Nagendraa Parakh from his duties as Member of the Forward Markets Commission, Mumbai, effective the afternoon of September 28, 2015, with the direction to report thereafter for duties to the Securities and Exchange Board of India (SEBI), Mumbai.
The notifications are documented under F. No. 1052014/CD Pt. Further information can be obtained from C.K.G. Nair, Adviser, Capital Markets.
Key Entities Referenced
Finance Act, 2015: A legislative act referenced in the notification, specifically section 132.
Ministry of Finance: The government ministry issuing the notification.
Forward Markets Commission: A regulatory body whose members' terms are ceasing as per the notification.
Ramesh Abhishek: Chairman of the Forward Markets Commission, being relieved from his duties.
Mumbai, Maharashtra: Location of the Forward Markets Commission office and Ramesh Abhishek's post.
Nagendraa Parakh: Member of the Forward Markets Commission, being relieved from his duties and directed to report to SEBI.
Securities and Exchange Board of India: The organization Nagendraa Parakh is directed to report to after being relieved from the Forward Markets Commission.
C.K.G. NAIR: Adviser Capital Markets, as indicated in the notification.
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[फा. सं. 10/5/2014-सीड6 (पाट(cid:15))]
सी. के. जी. नायर, सलाहकार (पूंजी बाजार)
MINISTRY OF FINANCE
(Department of Economic Affairs)
(COMMODITY DERIVATIVES MARKETS DIVISION)
NOTIFICATION
New Delhi, the 28th September, 2015
S.O. 2643(E).— In pursuance of the provision of section 132 of the Finance Act, 2015 read with the Ministry
of Finance Notification S.O. 2363(E) dated 28 August 2015, the members of the Forward Markets Commission shall
cease to hold office with effect from 29th September 2015. Accordingly, the Central Government relieves Sh. Ramesh
Abhishek, IAS (BH: 82) from his duties of the post of Chairman, Forward Markets Commission, Mumbai with effect
from the afternoon of 28.09.2015.
[F. No. 10/5/2014-CD (Pt.)]
C.K.G. NAIR, Adviser (Capital Markets)
4120 GI/2015 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
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[फा. सं. 10/5/2014-सीड6 (पाट(cid:15))]
सी. के. जी. नायर, सलाहकार (पूंजी बाजार)
NOTIFICATION
New Delhi, the 28th September, 2015
S.O. 2644(E).—In pursuance of the provision of section 132 of the Finance Act, 2015 read with the Ministry of
Finance Notification S.O. 2363(E) dated 28 August 2015, the members of the Forward Markets Commission shall cease
to hold office with effect from 29th September 2015. Accordingly, the Central Government relieves Sh. Nagendraa
Parakh from his duties of the post of Member, Forward Markets Commission, Mumbai with effect from the afternoon of
28.09.2015 with the direction to report thereafter for duties to the Securities and Exchange Board of India, Mumbai.
[F. No. 10/5/2014-CD (Pt.)]
C.K.G. NAIR, Adviser (Capital Markets)
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and Published by the Controller of Publications, Delhi-110054.