The Gazette of Pakistan Extraordinary Karachi Tuesday May 26 1953

BP-1614711.—In exercise of the powers conferred by section 3 of the Essential Supplies (Temporary Powers) Act 1946 and in supersession of the late Government of India Department of Commerce Notification No. [...] 2. In this Order unless there is any thing repugnant in the subject or context (a) foodgrain means any of the foodgrains specified in the Schedule to this Order futures in foodgrains includes all agreements relating to the purchase or sale of foodgrain made on a forward basis and providing for delivery at some future date in which actual delivery of the foodgrain by the seller to the purchaser w [...] 3. After the commencement of this Order no person shall (a) save with the permission of the Central Government or of an officer authorized by the Central Government in this behalf enter into any futures in foodgrain or pay or receive or agree to pay or receive any margin in connexion with any such futures ; (b) enter into any options in foodgrain. [...] 4. Every future in foodgrains entered into before the commencment of this Order not affected by the Foodgrains (Futures and Options Prohibitions) Order 1942 and outstanding for settlement shall be settled at the prevailing market rate applicable to the agreement at the close of transactions on the date immediately preceding the coming into force of this Order. [...] 6. No person being the owner or occupier of any premises shall knowingly permit such premises to be used :- (a) for the making of any futures or options in foodgrains or the payment or receipt of any margins prohibited by clause 3 Or (b) for the settlement of any futures in foodgrains in contravetion of the provisions of clause 4 or (c) for giving effect to any options in foodgrains declared