Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Second Amendment) Regulations, 2006

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..... otification No.FEMA 148/RB-2006 Dated March 16, 2006 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 of India 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), nam .....

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..... ndia to enter into a contract in a commodity exchange or market outside India to hedge the price risk in a commodity. (ii) Notwithstanding anything contained in sub-regulation (i), an authorized dealer bank specially authorized in that behalf by the Reserve Bank may permit a company, resident in India and listed on a recognized stock exchange, to enter into contracts in a commodity exchange or ma .....

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..... ch 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 import/export transactions are concerned.' 3. Amendment of Schedule III In Schedule III of the principal regulations, Paragraph 2 shall be substitut .....

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