NTF. NO. FEMA 201/2009-RB, DT. 05/11/2009

FEM (Foreign Exchange Derivative Contracts) (Second Amendment) Regulations, 2009

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, 2000, (Notification No.FEMA 25/RB-2000 dated May 3, 2000), namely:-

1. Short Title and Commencement:

(i) These Regulations may be called the Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Second Amendment) Regulations, 2009.

(ii) They shall be deemed to have come into effect from the 3 rd day of June, 2008 @.

2. Amendment of Regulation 6 - In the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 (Notification No. FEMA 25/RB-2000 dated May 3, 2000), in Regulation 6, in sub-regulation (ii), the words "and listed on a recognised stock exchange" shall be omitted.

(Salim Gangadharan)
Chief General Manager - in - Charge

Footnote:-

1. @ It is clarified that no person will be adversely affected as a result of retrospective effect being given to these regulations.

2. The principal regulations were published in the Official Gazette vide GSR No.411(E) dated May 8, 2000 in Part II, Section 3, sub-section (i) and subsequently amended vide -

GSR No.756(E) dt. 28.9.2000,
GSR No.264(E) dt. 09.4.2002,
GSR No.579(E) dt. 19.8.2002,
GSR No.222(E) dt. 18.3.2003,
GSR No.532(E) dt. 09.7.2003,
GSR No.880(E) dt. 11.11.2003,
GSR No.881(E) dt. 11.11.2003.
GSR No.750(E) dt. 28.12.2005.
GSR No.222(E) dt. 19.4.2006,
GSR No.223(E) dt. 19.4.2006,
GSR No.760(E) dt. 07.12.2007,
GSR.No.577(E) dt. 05.08.2008 and
GSR.No.440(E) dt. 23.06.2009

Presented by eximkey.com