NTF. NO. FEMA 124/2004-RB, DT. 16/10/2004

Foreign Exchange Management (Guarantees) (Amendment) Regulations, 2004

G.S.R 745(E).-In exercise of powers conferred by clause (j) 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 to Foreign Exchange Management (Guarantees) Regulations, 2000, namely : -

1. Short title and commencement

(1) (i) These Regulations may be called the Foreign Exchange Management (Guarantees) (Amendment) Regulations, 2004.

(ii) They shall come into force from October 16, 2004.@

2. Amendment of the Regulations

2. In the Foreign Exchange Management (Guarantees) Regulations, 2000, in sub-regulation (3) to Regulation 4 after item (ii) the following item shall be inserted, namely:-

"(iii) in favour of foreign airlines/International Air Transport Association (IATA), on behalf of IATA approved travel agents".

Sd/-
SHYAMALA GOPINATH,
Dy. Governor

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

Footnote:

@ (i) This has been mentioned as the date on which the decision/s covered by the Regulations became effective on the issue of AP. (DIR Series) Circular No. 17 dated. October 16, 2004.

The Principal Regulations were published in the Official Gazette vide No. G.S.R. 391(E) dated May 5, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended vide No. G.S.R. 575(E) dated August 19,2002.

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