Remittance for commodity derivative contracts authorised for option premiums and incidental payments, subject to regulatory approval and conditions. A new provision permits authorised dealers to remit foreign exchange abroad for payments connected to commodity derivative transactions, including option premiums payable by residents to non-residents, amounts incidental to commodity derivative contracts entered under regulation 6, and other remittances related to such contracts subject to regulatory approval. Schedule amendments create a forward-contract mechanism for hedging economic exposure, allowing residents to enter forward contracts with authorised dealers under regulator-prescribed terms, and permit cancellation and rebooking or rollover of forward contracts subject to regulatory conditions.
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.
Remittance for commodity derivative contracts authorised for option premiums and incidental payments, subject to regulatory approval and conditions.
A new provision permits authorised dealers to remit foreign exchange abroad for payments connected to commodity derivative transactions, including option premiums payable by residents to non-residents, amounts incidental to commodity derivative contracts entered under regulation 6, and other remittances related to such contracts subject to regulatory approval. Schedule amendments create a forward-contract mechanism for hedging economic exposure, allowing residents to enter forward contracts with authorised dealers under regulator-prescribed terms, and permit cancellation and rebooking or rollover of forward contracts subject to regulatory conditions.
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