Notification No. FEMA 39/2001-RB, dated 27th February, 2001

Receipt from, and payment to, a person resident outside India
In pursuance of the provisions of Section 3 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in partial modification of its Notification No. FEMA 16/2000-RB, dated 3rd May 2000 (hereinafter referred to as ‘the said Notification’), the Reserve Bank hereby directs that the said Notification shall with immediate effect be amended as under, namely :-

In paragraph 3, word "non" shall be inserted before the words "whole time director."

Sd/-
(D.P. SARDA)
Executive Director

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