Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2009

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..... n) (RESERVE BANK OF INDIA) (Foreign Exchange Department) (Central Office) NOTIFICATION Mumbai, the 20th May, 2009 No. FEMA 191/RB-2009 Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2009 G.S.R 440(E). - In exercise of the powers conferred by clause (h) of sub-section (2) of Section 47 of the Foreign Exchange Manageme .....

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..... A. (i) Reserve Bank may, on an application made in accordance with such procedure as may be directed by Reserve Bank, permit a person resident in India, subject to such terms and conditions as may be considered necessary, to enter into a freight derivative contract in an exchange or a market outside India to hedge the freight risk such person is exposed to. (ii) Notwithstanding anything contain .....

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..... a result of retrospective effect being given to these regulations. 2. The principal regulations were published in the Official Gazette vide G.S.R, No.411 (E), dated May 3, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended vide - G.S.R. 756(E), dated 28-9-2000, G.S.R. 264(E), dated 9-4-2002, G.S.R. 579(E), dated 19-8-2002, G.S.R. 222(E), dated 18-3-2003, G.S.R. 532(E .....

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