Commodity Trading Act 1992
Table of Contents
Long Title
Part 1 PRELIMINARY
1 Short title
2 Interpretation
3 Application
Part 2 COMMODITY MARKET AND CLEARING HOUSE
4 Establishment of commodities markets
5 Power of Board to approve commodity market
6 Business rules
7 Revocation of approval
8 Establishment of clearing house
9 Power of Board to approve clearing house
10 Appeal to Minister
11 Liabilities of commodity market and clearing house
Part 3 LICENCES
12 Commodity broker’s licence
13 Other licences
13A Licence for spot commodity trading
14 Power of Board to grant licences and impose conditions, etc.
14A Exemption from this Part
15 Grounds for refusal to grant or renew licences
16 Regulations relating to licences
17 False statements
18 Revocation of licence
19 Powers of Board in cases of misconduct, etc.
20 Effect of revocation or suspension of licence
21 Appeal against refusal to license, etc.
Part 4 ACCOUNTS AND AUDIT
22 Accounts to be kept by commodity brokers
23 Power of Board to appoint auditor
24 Power of auditors appointed by Board
25 Offence to destroy, alter, etc., records
26 Restriction on auditor’s and employee’s right to communicate certain matters
27 Maintenance of books and records and furnishing accounts, etc., by trading adviser and pool operator
28 Additional powers of Board in respect of auditors
29 Defamation
Part 5 CONDUCT OF COMMODITY TRADING BUSINESS
30 Segregation of customer’s funds by broker
31 Nature of pool and segregation of funds by pool operator, etc.
32 Risk disclosure
33 Offences
Part 6 POWERS OF BOARD
34 Emergency powers
35 Fixing of position and trading limits in contracts
36 Production of records
37 Records of transactions on commodity market or clearing house
38 Information to be provided by market participants
39 (Repealed)
40 Investigations by Board
41 Inspections by Board
42 Power to issue directions
Part 7 OFFENCES
43 False trading
44 Bucketing
45 Dissemination of information about false trading
46 Manipulation of price and cornering
47 Employment of fraudulent or deceptive devices, etc.
48 Fraudulently inducing trading
49 Penalties
50 (Repealed)
Part 8 MISCELLANEOUS
51 Preservation of secrecy
52 Offences by directors or managers
53 Falsification of records by directors, employees and agents
54 False reports
55 Immunity of Board and its employees, etc.
56 Offences by corporations
57 Prohibition of use of certain titles
58 Proceedings by whom and when to be taken and power to compound offences
59 Jurisdiction of courts
60 General penalty
61 Exemption
62 (Repealed)
63 Regulations
64 Directions by Minister
65 Validation of acts done in anticipation of this Act
THE SCHEDULE Exemption
Legislative History
Abbreviations
Comparative Table