NTF. NO. FEMA 96/2003-RB, DT. 02/07/2003

Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2003

G.S.R. 699(E).-In Exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999, (42 of 1999) and in partial modification of its Notification No. FEMA 13/2000-RB dated 3rd May, 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Remittance of Assets) Regulations, 2000, namely:–

Short title and commencement

1. (i) These Regulations may be called the "Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2003".

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

Amendment to the Regulations

2. In the Foreign Exchange Management (Remittance of Assets) Regulations, 2000, in regulation 6, in subregulation (1), in clause (iii), after the words, "branch/office", the bracket & words, "(other than project office)" shall be inserted.

Sd/-
Usha Thorat,
Executive Director

[F. No. 1/23/EC/2000-Vol.-III]

Foot-note :

The Principal Regulations were published in the official gazette vide G.S.R. No. 396(E) dated May 5, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended vide G.S.R. No. 576(E) dated August 19, 2002.

(Above Foot-note has been added vide CORRIGENDUM - G.S.R. No.558(E), DT. 31/08/2004)

(Please refer CIR. NO. 37/2003-04-RB, DT. 15/11/2003 - Permission to open Project Office in India and Remittance of Assets - Project Office)

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