(i) By its Notification No. FERA.151/93-RB dated 26th April 1993, Reserve Bank has also exempted transfer, by way of gift, of any share, bond or debenture of a company registered in India made by a non-resident Indian or person of Indian origin to a citizen of India or a person of Indian origin resident in India provided -

(a)such share, bond or debenture was held by the transferor with the permission of the Reserve Bank,and

(b)such transfer is between relatives as defined in Section 6 of the Companies Act, 1956.

(ii) By its Notification No.F.E.R.A.151/93-RB dated 26th April 1993 read with Notification No.F.E.R.A.199/99-RB dated 30th March 1999, Reserve Bank has exempted transfer, by way of gift, of any, rupee security, share, bond or debenture of a company registered in India made by a non-resident Indian or person of Indian origin to a registered charitable trust in India provided -

a) such share, bond or debenture was held by the transferor, with the special or general permission of the Reserve Bank,

and

b) provisions of any other law, as applicable, including Foreign Contribution (Regulation) Act, 1976 are duly complied with.

Note:- "Charitable Trust" means a trust created or an institution established for charitable purposes and duly registered under the laws in India.