Foreign Exchange Management (Foreign exchange derivative contracts) (Amendment) Regulations, 2003

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..... i-400 001 Notification No. FEMA. 81/2003-RB Dated the January 8, 2003 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 09.07.2003 - G.S.R. No. 532(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 .....

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..... the hedge does not exceed the market value of the underlying debt or equity instruments, provided forward contracts once booked shall be allowed to continue to the original maturity even if the value of the underlying portfolio shrinks, for reasons other than sale of securities' b). Sub-clause (b) shall be deleted and the subsequent sub-clauses (c) (d) and (e) shall be renumbered as (b), (c) an .....

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