Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2009

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....n) (RESERVE BANK OF INDIA) (Foreign Exchange Department) (Central Office) NOTIFICATION Mumbai, the 20th May, 2009 No. FEMA 191/RB-2009 Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2009 G.S.R 440(E). - In exercise of the powers conferred by clause (h) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999....

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...., on an application made in accordance with such procedure as may be directed by Reserve Bank, permit a person resident in India, subject to such terms and conditions as may be considered necessary, to enter into a freight derivative contract in an exchange or a market outside India to hedge the freight risk such person is exposed to. (ii) Notwithstanding anything contained in sub-regulation (i....