| Date: |
27-07-2002
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| Notification No: |
FEMA Notification No 66/2002
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| Issuing Authority: |
RBI
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| Type: |
Notification
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| File No: |
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| Subject: |
Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Second Amendment) Regulations, 2002
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Foreign Exchange Management (Foreign Exchange Derivative Contracts)
(Second Amendment) Regulations, 2002
FEMA
Notification No. 66 dated 27th July 2002
In
exercise of the powers conferred by section (h) of sub-section (2) of section 47
of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial
modification of its Notification No. FEMA 25/ 2000-RB dated 3rd May
2000, the Reserve Bank of India makes the following amendments in the Foreign
Exchange Management (Foreign Exchange derivative contracts) Regulations, 2000,
as amended time to time, namely:
(i)
These Regulations shall be called the �Foreign Exchange Management
(Foreign Exchange derivative contracts)/ (Second Amendment) Regulations,
2002�.
(ii)
They shall come into force with effect from their publication in the
Official Gazette.
In
the Foreign Exchange Management (Foreign Exchange derivative contracts)
Regulations, 2000, in paragraph 6, the following proviso shall be added, namely:
�Provided
that a unit in the Special Economic Zone (SEZ) may, without prior approval
of the Reserve Bank, enter into a contract
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