Regulation 2 - Definitions - Foreign Exchange Management (Offshore Banking Unit) Regulations, 2002

2. Definitions: In these Regulations, unless the context requires otherwise- (a) 'Act' means the Foreign Exchange Management Act, 1999 (Act 42 of 1999) ; (b) 'Offshore Banking Unit' means a branch of a bank in India located in the Special Economic Zone and holds an authorisation issued under clause (a) of sub-section (1) of section 23 of the Banking Regulation Act, 1949 (10 of 1949); (c) 'Regulations' means the Regulations made under the Act; (d) 'Special Economic Zone' means the Special Economic Zone notified by the Government of India; (e) Words and expressions used but not defined in these Regulations shall have the same meanings respectively assigned to them in the Act.