https://www.taxtmi.com/circulars?id=1938 Entities in Special Economic Zones may hedge import/export commodity price risk in international exchanges on a stand-alone basis, permitting only off-set hedges using exchange-traded futures and options (purchases only) and, where warranted, limited OTC contracts; authorised dealers must monitor for speculative/arbitrage activity. Corporates must open a Special Account for hedging flows, provide broker month-end reports countersigned by the Financial Controller to verify physical backing, reconcile broker statements within three months, and furnish an annual statutory auditor certificate confirming compliance and adequate internal controls. en-us Tue, 12 Nov 2002 00:00:00 +0530 Fri, 03 Oct 2008 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1938 Entities in Special Economic Zones may hedge import/export commodity price risk in international exchanges on a stand-alone basis, permitting only off-set hedges using exchange-traded futures and options (purchases only) and, where warranted, limited OTC contracts; authorised dealers must monitor for speculative/arbitrage activity. Corporates must open a Special Account for hedging flows, provide broker month-end reports countersigned by the Financial Controller to verify physical backing, reconcile broker statements within three months, and furnish an annual statutory auditor certificate confirming compliance and adequate internal controls. Circulars FEMA Tue, 12 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1938