Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2009 - ಆರ್ಬಿಐ - Reserve Bank of India
Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2009
RESERVE BANK OF INDIA Notification No. FEMA 191/RB-2009 Dated May 20, 2009 Foreign Exchange Management (Foreign Exchange Derivative Contracts) In exercise of the powers conferred by clause (h) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank hereby makes the following amendments in the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000, (Notification No. FEMA 25/RB-2000 dated May 3, 2000), namely:- 1. Short Title and Commencement : " Freight" hedge 6A. (i) Reserve Bank may, on an application made in accordance with such procedure as may be directed by Reserve Bank, permit a person resident in India, subject to such terms and conditions as may be considered necessary, to enter in to a freight derivative contract in an exchange or a market out side India to hedge the freight risk such person is exposed to. Provided that such authorised dealer category-I bank shall exercise the authority subject to directions and guidelines issued to them by the reserve Bank in that behalf." (Salim Gangadharan) Footnote:- 2. The principal regulations were published in the Official Gazette vide GSR No.411(E) dated May 3, 2000 in Part II, Section 3, sub-section (i) and subsequently amended vide - GSR No.756(E) dt. 28.9.2000,
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