Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) (fifth Amendment) Regulations, 2014 - ربی - Reserve Bank of India
Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) (fifth Amendment) Regulations, 2014
Reserve Bank of India Notification No.FEMA. 304/2014-RB. May 22, 2014 Foreign Exchange Management (Transfer or issue of Security by a Person 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 May 3, 2000), namely:- 1. Short Title & Commencement (a) These Regulations may be called the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) (fifth Amendment) Regulations, 2014. (b) They shall come into force from the date of their publication in the Official Gazette. 2. Amendment to Schedule 5 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 May 3, 2000), in Schedule 5, (A) in paragraph 1, after the existing clause (k) and before the existing proviso, the following shall be inserted, namely:- “(l) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations." (B) in paragraph 1A, in clause (v), after sub-clause (h), the following shall be inserted, namely:- “(i) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations." (C) in paragraph 1B, in clause (iii), after sub-clause (j), the following shall be inserted, namely:- “(k) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations." (D) in paragraph 1C, in clause (1), after sub-clause (k), the following shall be inserted, namely:- “(l) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2)of these Regulations." (E) in paragraph 2, (a) in clause (1A), after sub-clause (iv), the following shall be added, namely:- “(v) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations." (b) in clause (2) the following shall be added, namely:- “A Non-resident Indian may, without limit, purchase on non-repatriation basis, listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations." (C.D.Srinivasan) 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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