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TMI BlogForeign Exchange Management (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... (E) - In exercise of the powers conferred by clause (h) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank hereby makes the following amendments in the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 ( Notification No. FEMA 25/RB-2000, dated May 3, 2000 ), namely: 1. Short Title and Commenceme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Regulation 6 , (i) in sub-regulation (ii), the words "specially authorized in that behalf by the Reserve Bank" may be omitted and shall be deemed to have been omitted with effect from January 17, 2012. (ii) in sub-regulation (ii), the words "Provided that such authorized dealer bank shall exercise such authority subject to the directions and guidelines issued to them by the Reserve Bank in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n No. FEMA 25/RB-2000, dated, May 3, 2000 ), A. In Schedule I , (i) In paragraph 'A', in sub-paragraph 1(h), the words "Such contracts booked by residents to hedge current account transactions, regardless of tenor, not being those booked on past performance basis without documents or booked to hedge transactions denominated in foreign currency but settled in Indian Rupee, may be cancelled and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16, 2012. (ii) In Paragraph 1A, after the words "FII", the words"/QFI" shall be inserted and the same shall be deemed to have been inserted with effect from July 16, 2012. (iii) After paragraph '5', the following new paragraph shall be added and the same shall be deemed to have come into force with effect from the 29th day of December 2011 : "6. A non-resident may enter in to a forward con ..... X X X X Extracts X X X X X X X X Extracts X X X X
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