Notification No.FEMA. 50 /2002-RB

dated February 20, 2002

In exercise of the powers conferred by clause (h) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in partial modification of its Notification No.FEMA.24/2000-RB dated May 3, 2000, Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Investment in Firm or Proprietary concern in India) Regulations, 2000, namely :

1. (a) These Regulations may be called the Foreign Exchange Management (Investment in Firm or Proprietary concern in India) (Amendment) Regulations, 2002.

2. In the Foreign Exchange Management (Investment in Firm or Proprietary concern in India) Regulations, 2000, in Regulation 4, in the proviso, after clause (d), the following proviso shall be added, namely :

'(e) the firm or the proprietary concern is not engaged in print media.'

(K.J.Udeshi)
Executive Director