Settlement system under ACU Mechanism

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..... ent establishing the Asian Clearing Union for channelling transactions through the Asian Clearing Union (ACU) in terms of which, the Asian Monetary Unit is denominated as "ACU Dollar" and Regulations 3 and 5 of Notification No. FEMA 14/2000-RB dated May 3, 2000 [Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000], as amended from time to time. 2. In order to facilitate .....

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..... n Clearing Union (ACU) [Memorandum ACM] are being issued separately. 5. AD Category - I banks may bring the contents of this circular to the notice of their constituents concerned. 6. The directions contained in this circular has been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, .....

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