NTF. NO. FEMA 100/2003-RB, DT. 03/10/2003

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Third Amendment) Regulation, 2003

G.S.R. 835(E).- In of the powers conferred by clause (b) of Sub-section (3) of Section 6, Section 47 of the Foreign Exchange Management Act, 1999 ( 42 of 1999) and in partial modification of its Notification No. FEMA 20/2000-RB dated 3rd May, 2000, as amended from time to time, the Reserve Bank of India makes the following Regulations to amend the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, namely:–

1. Short Title and commencement:

(i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Third Amendment) Regulations, 2003.

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

2. Amendment of the Regulations:

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

(i) in Regulation 2, after clause (ii) the following clause shall be inserted,

“(iia) ‘entity incorporated outside India means an entity incorporated/registered under the relevant statutes, laws of the host country”.

(ii) in Regulation 5, sub-regulation (1), for the words “or an entity outside India, whether incorporated or not,” the words “or an entity incorporated outside India,” shall be substituted.

Foot Note : The Principal Regulations were published in the Official Gazette vide No. G. S. R. 406(E) dated 8 May, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended vide No. G. S.R 158(E) dated 2 March, 2001, No. G.S.R 175(E) dated 13 March, 2001, No. G. SR. 182(E) dated 14 March, 2001, No. G.S.R 4(E) dated 1 January, 2002, No. G.S.R 574(E) dated 19 August, 2002, No. G.S.R. 223(E) dated 18 March, 2003, No. G.S.R 225(E) dated 18 March, 2003, and No. G.S.R 558(E) dated 22 July, 2003.

(Above foot note has been added vide Ntf. No. G.S.R.715(E), Dt. 20/10/2004)

Sd/-
(Usha Thorat)
Executive Director

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

(Please refer CIR. NO. 54/2003-04-RB, DT. 20/12/2003 - Investment by an unincorporated entity under Foreign Direct Investment (FDI) Scheme)

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