NTF. NO. FEMA 92/2003-RB, DT. 07/06/2003

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

In exercise of powers conferred by clause(b) of Section 9 and clause(e) 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 10/2000-RB dated May 3, 2000, Reserve Bank of India makes the following amendments to Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000 namely:

1. Short title and commencement :-

i. These Regulations may be called the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Amendment) Regulations, 2004.

ii. They shall come into force from the date of their publication in the Official Gazette.

2. Amendment of the Regulations

In the Foreign Exchange Management(Foreign Currency Accounts by a Person Resident in India) Regulations, 2000, in the Schedule; in paragraph 1, in sub-paragraph (1) in the table, in item 3, for the figure "70", the figure "100" shall be substituted.

Foot Note : The Principal Regulations were published in the Official Gazette vide No. G.S.R. 393(E) dated 5 May, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended vide No. G.S.R. 675(E) dated 25 August, 2000, No. G.S.R. 89(E) dated 12 February, 2001, No. G.S.R. 103(E) dated 19 February, 2001, No. G.S.R 200(E) dated 21 March, 2001, No. G.S.R. 5(E) dated 2 January, 2002, No. G.S.R 261(E) dated 9 April, 2002, No. G.S.R 465(E) dated 2 July, 2002, No: G.S.R 474(E) dated 8 July, 2002, No. G.S.R 755(E) dated 8 November, 2002, No. G.S.R 756(E), No. G.S.R 224(E) dated 18 March, 2003 and No. G.S.R. 398(E) dated 14 May, 2003, No. G.S.R No. 452(E) dated 3 June, 2003 and No. G.S.R 453(E) dated 4 June, 2003.

(In Clause 1 figure "2004" "(Amendment)" & in Clause 2 world "in item 3" and above foot note has been added vide Ntf. No. G.S.R.714(E), Dt. 20/10/2004)

Sd/-
(K.J.Udeshi)
Executive Director

(Please refer CIR. NO. 96/2003-04-RB, DT. 15/06/2004 for Exchange Earners' Foreign Currency (EEFC) Account Scheme - Liberalisation)

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