Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eleventh Amendment) Regulations, 2013 - आरबीआय - Reserve Bank of India
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eleventh Amendment) Regulations, 2013
RESERVE BANK OF INDIA Notification No.FEMA. 284/2013-RB Dated : August 27, 2013 Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eleventh Amendment) Regulations, 2013 In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and 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 Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA 20/2000-RB dated 3rd May 2000), (hereinafter referred to as 'the principal Regulations,' namely:- 1. Short Title & Commencement:-(i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by A Person Resident Outside India) (Eleventh Amendment) Regulations, 2013. (ii) They shall be deemed to have come into force from February 13, 2009. 2. Amendment to Regulation 14 In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No.FEMA.20/2000-RB dated 3rd May 2000), in Regulation 14, in sub-regulation 6, in clause (ii), in sub-clause (d) for the words "Downstream investments through internal accruals are permissible by an Indian company engaged only in activity of investing in the capital of another Indian company/ies, subject to the provisions of sub-paragraph subject to the provisions above and as also elaborated below:", the words "Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause (i) above and as also elaborated below:" shall be substituted. (Rudra Narayan Kar) Foot Note:- The Principal Regulations were published in the Official Gazette vide G.S.R. No.406 (E) dated May 8, 2000 in Part II, Section 3, sub-Section (i) and subsequently amended as under:- G.S.R.No. 158(E) dated 02.03.2001
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