Date: 2015-07-13Category: Extra OrdinaryState: Union GovernmentCountry: India
The powers conferred by sub-section (2) of Section 3 of the Forward Contracts (Regulation) Act, 1952, the President is pleased to extend the tenure of Shri Ramesh Abhishek, IAS (BH : 82), Chairman, Forward Markets Commission (FMC). Mumbai under the Ministry of Finance, Department of Economic Affairs.
**Policy Summary:**
This notification, S.O. 1877(E), issued by the Ministry of Finance, Department of Economic Affairs, Commodity Derivatives Markets Division on July 7, 2015, extends the tenure of Shri Ramesh Abhishek, IAS (BH:82), as Chairman of the Forward Markets Commission (FMC), Mumbai. The extension is for a period of three months beyond July 8, 2015, or until the merger of the FMC with the Securities and Exchange Board of India (SEBI), or until further orders, whichever occurs earliest. This action is taken in exercise of the powers conferred by subsection 2 of Section 3 of the Forward Contracts Regulation Act, 1952. The notification reference number is F.No. 10/1/2014-CD. C.K.G. Nair, Adviser Capital Market, is listed in the document.
Key Entities Referenced
Forward Contracts Regulation Act, 1952: A law that governs forward contracts in India. The notification refers to the powers conferred by subsection 2 of Section 3 of this Act.
Ministry of Finance: The Indian government ministry responsible for economic and financial matters. This notification originates from the Department of Economic Affairs within this ministry.
Department of Economic Affairs: A department within the Ministry of Finance. The Commodity Derivatives Markets Division falls under this department.
Commodity Derivatives Markets Division: A division within the Department of Economic Affairs, Ministry of Finance. It is the issuing authority for this notification.
Ramesh Abhishek: An IAS officer and Chairman of the Forward Markets Commission (FMC). The notification extends his tenure.
Forward Markets Commission (FMC): A regulatory body for commodity futures markets in India. The notification discusses its potential merger with SEBI.
Securities and Exchange Board of India: A regulatory body for the securities and commodity market in India. The notification refers to a potential merger with the Forward Markets Commission (FMC).
Mumbai, Maharashtra: Location where Forward Markets Commission (FMC) is situated.
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[[[[फा.सं. 10000 /12/2014---- सी डी ]]]]
सी.के.जी. नायर,,,, सलाहकार (पूंजी बाजार)
MINISTRY OF FINANCE
(Department of Economic Affairs)
(COMMODITY DERIVATIVES MARKETS DIVISION)
NOTIFICATION
New Delhi, the 7th July, 2015
S.O.1877(E).—In exercise of the powers conferred by sub-section (2) of Section 3 of the Forward Contracts
(Regulation) Act, 1952, the President is pleased to extend the tenure of Shri Ramesh Abhishek, IAS (BH : 82),
Chairman, Forward Markets Commission (FMC), Mumbai under the Ministry of Finance, Department of Economic
Affairs, for a period of another 3 (three) months beyond 8-7-2015 or till merger of Forward Markets Commission with
Secrurities and Exchange Board of India or until further orders, whichever is the earliest.
[F.No. 10/12/2014-CD]
C.K.G. NAIR, Adviser (Capital Market)
3072 GI/2015
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.