Foreign Exchange Management (Transfer or Issue of Any Foreign Security) ( Amendment) Regulations, 2009 - ആർബിഐ - Reserve Bank of India
Foreign Exchange Management (Transfer or Issue of Any Foreign Security) ( Amendment) Regulations, 2009
Notification No. FEMA.184 / 2009-RB Dated January 20, 2009 Foreign Exchange Management (Transfer or Issue of Any In exercise of the powers conferred by clause (a) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act,1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 (Notification No. FEMA.120/2004-RB dated 1. Short Title & Commencement:- (i) These Regulations shall be called the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Second Amendment) Regulations, 2009. (ii) These Regulations shall be deemed to have come into effect from 19th day of July 2007. 2. Insertion of new regulation 27 :- In the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 (Notification No. FEMA.120/2004-RB dated July 7, 2004, after regulation 26, the following regulation shall be inserted, namely:- " 27: Opening of Demat Accounts by Clearing Corporations of Stock Exchanges and Clearing Members ii) remit the proceeds arising from corporate action, if any, on such foreign sovereign securities; and iii) liquidate such foreign sovereign securities and repatriate the proceeds thereof to India.”
(Salim Gangadharan) (i) Foot Note: (ii) It is clarified that no person will be adversely affected as a result of retrospective effect being given to these Regulations.
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