Rupee derivative contract rebooking restriction: cancelled contracts require RBI permission, while export contracts remain exempt. The amendment provides that rupee involving derivative contracts, once cancelled, shall not be re booked except with Reserve Bank permission, though they may be rolled over at ongoing rates on or before maturity; contracts covering export transactions are exempt and may be cancelled, re booked or rolled over without restriction. The amendment substitutes item (h) of paragraph A.1 of Schedule I and takes effect upon publication in the Official Gazette.
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Provisions expressly mentioned in the judgment/order text.
The amendment provides that rupee involving derivative contracts, once cancelled, shall not be re booked except with Reserve Bank permission, though they may be rolled over at ongoing rates on or before maturity; contracts covering export transactions are exempt and may be cancelled, re booked or rolled over without restriction. The amendment substitutes item (h) of paragraph A.1 of Schedule I and takes effect upon publication in the Official Gazette.
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