Commodity Hedge

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.... may consider necessary, a person resident in India to enter into a contract in a commodity exchange or market outside India to hedge the price risk in a commodity. (ii) Notwithstanding anything contained in sub-regulation (i), an authorized dealer bank 5[***] may permit a company, resident in India 4[***], to enter into contracts in a commodity exchange or market outside India, to hedge the pri....

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....on No. 066/2002 dated 27-07-2002, w.e.f. 27-07-2002. 2. Substituted vide Notification No. 148/RB-2006 dated 16-03-2006, w.e.f. 23-07-2005 before it was read as, "Reserve Bank may, on an application made in accordance with the procedure specified in Schedule III, permit subject to such terms and conditions as it may consider necessary, a person resident in India to enter into a contra....

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....e.f. 17-01-2012, before it was read as, "specially authorized in that behalf by the Reserve Bank" 6. Omitted vide Notification No. FEMA. 260/2013-RB dated 18-02-2013 w.e.f. 17-01-2012, before it was read as, "Provided that such authorized dealer bank shall exercise such authority subject to the directions and guidelines issued to them by the Reserve Bank in that behalf"  7. Omitt....