Section 2 in The Foreign Exchange Management (Offshore Banking Unit) Regulations, 2002
2. Definitions .-In these regulations, unless the context requires otherwise:-
(i)"Act" means the Foreign Exchange Management Act, 1999 (42 of 1999);(ii)"Offshore Banking Unit" means a branch of a bank in India located in the Special Economic Zone and holds an authorisation issued under clause (a) of sub-section (1) of section 23 of the Banking Regulation Act, 1949 (10 of 1949);(iii)"Regulations" means the regulations made under the Act;(iv)"Special Economic Zone" means the Special Economic Zone notified by the Government of India;(v)Words and expressions used but not defined in these regulations shall have the same meanings respectively assigned to them in the Act.
