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Navigation Acts - Wikipedia, the free encyclopedia
The English Navigation Acts were a series of laws which restricted the use of foreign shipping for trade between England (after 1707 Great Britain) and its colonies, which started in 1651. At their ...
en.wikipedia.org/wiki/Navigation_Acts |
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Designated contract markets (DCMs) must submit to the CFTC, and receive CFTC approval prior to implementation, all new rules and rule amendments that materially change the terms and conditions of contracts on commodities enumerated in Section 1a(4) of the Commodity Exchange Act (CEA), 7 USC 1a(4), and that will apply...
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June 15, 1936—The Commodity Exchange Act is enacted. The Commodity Exchange Act replaces the Grain Futures Act and extends Federal regulation to a list of enumerated commodities that includes cotton, rice, mill feeds, butter, eggs, and Irish potatoes, as well as the grains.
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The earliest such items were defined by the Navigation Act (1660). On the enumerated list were tobacco, rice (with numerous exemptions), indigo, furs, masts, tar, turpentine, hemp, sugar, copper, dyewoods, and ginger.
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The Act of 1673 was passed to meet certain difficulties which arose in the administration of the Act of 1660. The earlier act permitted colonial vessels to carry enumerated commodities from the place of production to another plantation without paying duties.
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§ 6c(a).4 In addition, however, § 6c(b) subjects option transactions in non-enumerated commodities to regulations promulgated by the Commission.5 The Act clearly applies to option transactions in non-enumerated commodities.
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ENUMERATED COMMODITIES were colonial products permitted to be exported only to limited destinations, generally British colonies, England, Ireland, Wales, Berwick on Tweed, or, after 1707, Scotland. The first article enumerated was tobacco in 1621, by order in council. ... Parliament later enumerated other goods by specific act,
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