Amendments in the Foreign Exchange Management (Foreign exchange derivative contracts) Regulations, 2000

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..... E MUMBAI 400 001 Notification No.FEMA.66/2002-RB dated 27 July 2002 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 19.08.2002 - G.S.R. No. 579(E) In exercise of the powers conferred by clause (h) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (Act 42 of 1999) and in partial modif .....

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..... in a commodity exchange or market outside India to hedge the price risk in the commodity on export/import, subject to the condition that such contract is entered into on a 'stand-alone' basis. Explanation : - The term 'stand-alone' means that the unit in the SEZ is completely isolated from financial contracts with its parent or subsidiary in the mainland or within the SEZ(s) as far as its imp .....

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