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

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..... 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 modification of its Notification No. .....

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..... 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 import/export transactions are concerned. .....

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