NTF. NO. FEMA 144/2005-RB, DT. 06/01/2006

Foreign Exchange Management (Deposits) (Amendment) Regulations, 2006

G.S.R. 28(E) .-In exercise of the powers conferred by clause (f) of Sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Deposits) Regulations, 2000 (Notification No. FEMA 5/2000-RB dated May 3, 2000), namely:-

1. Short Title and Commencement :-

(i) These regulations may be called the Foreign Exchange Management (Deposits) (Amendment) Regulations, 2006.

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

2. Amendment to the Regulations 8.

In the Foreign Exchange Management (Deposits) Regulations, 2000 (Notification No. FEMA-5/2000-RB dated May 3, 2000), in sub-regulation (2) after the words, “issue of Commercial Paper to a Non-Resident Indian”, the words, “or a Foreign Institutional Investor registered with the Securities and Exchange Board of India”, shall be inserted.

Sd/-
( Vinay Baijal )
Chief General Manager

[ No. 1/23/EM/00 Vol.iv]

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