NTF. NO. FEMA 35/2001-RB DT. 16/02/2001

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000
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) and in partial modification of its Ntf. No. FEMA 20/2000-RB , dated 3rd May 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, as amended from time to time, namely:-

1.

(1) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2001.

(2) They shall come into force with immediate effect.

2.

In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, in Regulation 5,

1. after Sub-regulation (2), the following proviso shall be added, namely:
   
   "Provided that the FII shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector".
   
   
2. after Sub-regulation (3), the following proviso shall be added, namely:
   
   "Provided that the NRI/OCB shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector".
   
   
3. after Sub-regulation (5), the following proviso shall be added, namely:
   
   "Provided that the Foreign Venture Capital Investor shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector".

Sd/-
(J. Capoor)
Deputy Governor

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