Residency requirement for currency futures restricts market access to domestic residents, with regulator permission required for supervised entities. Participation in the currency futures market is limited to persons resident in India under the Foreign Exchange Management Act, 1999, and regulated entities such as scheduled banks or other agencies must obtain permission from the Reserve Bank's regulatory Departments, while other regulated entities need concurrence from their respective regulators before participating.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Residency requirement for currency futures restricts market access to domestic residents, with regulator permission required for supervised entities.
Participation in the currency futures market is limited to persons resident in India under the Foreign Exchange Management Act, 1999, and regulated entities such as scheduled banks or other agencies must obtain permission from the Reserve Bank's regulatory Departments, while other regulated entities need concurrence from their respective regulators before participating.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
