Dated July 2, 2003

In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No.FEMA.13/2000-RB dated 3^rd May 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Remittance of Assets) Regulations, 2000, namely:

1. (i) These Regulations may be called the 'Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2003'.

(ii) They shall come into force from the date of their publication in the Official Gazette of Government of India.

2. In the Foreign Exchange Management (Remittance of Assets) Regulations, 2000, in regulation 6, in sub-regulation (1), in clause (iii), after the words, 'branch/office', the bracket & words, '(other than project office)' shall be inserted.