FEMA (FOREIGN EXCHANGE DERIVATIVE CONTRACTS) (SECOND AMENDMENT) REGULATIONS, 2012 - AMENDMENT IN SCHEDULE I

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....DMENT) REGULATIONS, 2012 - AMENDMENT IN SCHEDULE I NOTIFICATION NO. FEMA 240/2012-RB Dated 25-9-2012 GSR 799(E),- In exercise of the powers conferred by clause (h) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank hereby makes the following amendments in the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations....

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..... (ii) In sub-paragraph 3(1) of the paragraph 'B' in Schedule I, the words "Provided that in the respect of cost effective risk reduction strategies like range forwards, ratio-range forwards or any other variable by whatever name called there shall not be any net inflow of premium" shall be omitted and shall be deemed to have been omitted with effect from the 1st day of February, 2011. (iii) Aft....