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Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eleventh Amendment) Regulations, 2013

RESERVE BANK OF INDIA

(Foreign Exchange Department)

(CENTRAL OFFICE)

NOTIFICATION No. FEMA. 284/2013-RB

Mumbai, the 27th August, 2013

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eleventh Amendment) Regulations, 2013

G.S.R. 596(E).” In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA 20/2000-RB dated 3rd May, 2000), (hereinafter referred to as ‘the principal Regulations,’ namely :”

1. Short Title & Commencement :

(i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by A Person Resident Outside India) (Eleventh Amendment) Regulations, 2013.

(ii) They shall be deemed to have come into force from February 13, 2009.

2. Amendment to Regulation 14

In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA. 20/2000-RB dated 3rd May, 2000), in Regulation 14, in sub-regulation 6, in clause (ii), in sub-clause (d) for the words “Downstream investments through internal accruals are permissible by an Indian company engaged only in activity of investing in the capital of another Indian company/ies, subject to the provisions of sub-paragraph subject to the provisions above and as also elaborated below:”, the words “Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause (i) above and as also elaborated below:” shall be substituted.

RUDRA NARAYAN KAR,

Chief General Managerin-Charge

—————————————————————————–

Foot Note : The Principal Regulations were published in the Official Gazette vide G.S.R. No. 406(E) dated May 8, 2000 in Part II, Section 3, sub-section (i) and subsequently amended as under :”

G.S.R. No. 158(E) dated 02.03.2001

G.S.R. No. 175(E) dated 13.03.2001

G.S.R. No. 182(E) dated 14.03.2001

G.S.R. No. 4(E) dated 02.01.2002

G.S.R. No. 574(E) dated 19.08.2002

G.S.R. No. 223(E) dated 18.03.2003

G.S.R. No. 225(E) dated 18.03.2003

G.S.R. No. 558(E) dated 22.07.2003

G.S.R. No. 835(E) dated 23.10.2003

G.S.R. No. 899(E) dated 22.11.2003

G.S.R. No. 12(E) dated 07.01.2004

G.S.R. No. 278(E) dated 23.04.2004

G.S.R. No. 454(E) dated 16.07.2004

G.S.R. No. 625(E) dated 21.09.2004

G.S.R. No. 799(E) dated 08.12.2004

G.S.R. No. 201(E) dated 01.04.2005

G.S.R. No. 202(E) dated 01.04.2005

G.S.R. No. 504(E) dated 25.07.2005

G.S.R. No. 505(E) dated 25.07.2005

G.S.R. No. 513(E) dated 29.07.2005

G.S.R. No. 738(E) dated 22.12.2005

G.S.R. No. 29(E) dated 19.01.2006

G.S.R. No. 413(E) dated 11.07.2006

G.S.R. No. 712(E) dated 14.11.2007

G.S.R. No. 713(E) dated 14.11.2007

G.S.R. No. 737(E) dated 29.11.2007

G.S.R. No. 575(E) dated 05.08.2008

G.S.R. No. 896(E) dated 30.12.2008

G.S.R. No. 851(E) dated 01.12.2009

G.S.R. No. 341(E) dated 21.04.2010

G.S.R. No. 606(E) dated 03.08.2012

G.S.R. No. 795(E) dated 30.10.2012

G.S.R. No. 796(E) dated 30.10.2012

G.S.R. No. 797(E) dated 30.10.2012

G.S.R. No. 946(E) dated 31.12.2012

G.S.R. No. 344(E) dated 29.05.2013

G.S.R. No. 38(E) dated 22.01.2013

G.S.R. No. 515(E) dated 30.07.2013

G.S.R. No. ______ dated _________

G.S.R. No. 532(E) dated 05.08.2013

G.S.R. No. 341(E) dated 28.05.2013

G.S.R. No.195(E) dated 01.04.2013

G.S.R. No. 393(E) dated 21.06.2013

G.S.R. No. 530(E) dated 05.08.2013

Tags: 3rd May 2000Federal Emergency Management AgencyForeign Exchange ManagementForeign Exchange Management ActIndiaMumbaiRegulationReserve Bank of India

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