Section 18B: Development of market

- (1) The Central Government shall endeavour to promote development of market, including trading, of minerals, its concentrate or its processed forms (including metals) through mineral exchanges in such manner as may be prescribed by the Central Government.

(2) The Central Government may, by notification in the Official Gazette, appoint any authority to register and regulate mineral exchanges.

(3) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:—-

(a) registration of mineral exchanges and revocation of such registration;

(b) regulation of all aspects and activities of mineral exchanges and market oversight;

(c) levy of fees and other charges;

(d) maintenance of a data bank of information on activities relating to mineral trading on mineral exchanges;

(e) prevention of cartelization, insider trading, circular trading, market manipulation and any other matter which is detrimental to the participants of the mineral exchanges;

(f) grievance redressal of participants of mineral exchanges; and

(g) any other matter which is to be, or may be, prescribed.]