Freight hedge permits residents to enter foreign freight derivative contracts to hedge freight risk subject to RBI approval. The amendment adds a regulation allowing residents to enter into freight derivative contracts overseas to hedge freight risk, subject to Reserve Bank approval on application and to any terms, conditions and procedures the Reserve Bank prescribes; authorised dealers specially authorised by the Reserve Bank may permit oil refining and shipping companies to undertake such hedges under Reserve Bank directions and guidelines. The regulations are given retrospective effect with a clarification against adverse effect on persons.
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.
Freight hedge permits residents to enter foreign freight derivative contracts to hedge freight risk subject to RBI approval.
The amendment adds a regulation allowing residents to enter into freight derivative contracts overseas to hedge freight risk, subject to Reserve Bank approval on application and to any terms, conditions and procedures the Reserve Bank prescribes; authorised dealers specially authorised by the Reserve Bank may permit oil refining and shipping companies to undertake such hedges under Reserve Bank directions and guidelines. The regulations are given retrospective effect with a clarification against adverse effect on persons.
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