Notification No.FEMA.89/2003-RB

dated April 29, 2003

Foreign Exchange Management (Foreign Currency Account by a
Person Resident in India)(Second Amendment) Regulations, 2003

In exercise of the powers conferred by clause (b) of Section 9 and clause (e) of sub-section (2) of Section 47 and in partial modification of its Notification No.FEMA 10/2000-RB dated 3^rd May 2000 the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Foreign Currency Account by a Person Resident in India) Regulations 2000 namely:

In the Foreign Exchange Management (Foreign Currency Account by a Person Resident in India) Regulations 2000, in sub-regulation 8 of Regulation 7, for the words 'A national of a foreign State resident in India being an employee of a foreign company on deputation', the words 'A national of a foreign State resident in India being an employee of a foreign company or a citizen of India employed by a foreign company outside India and in either case on deputation' shall be substituted.