RESERVE BANK OF INDIA

(FOREIGN EXCHANGE DEPARTMENT)

(CENTRAL OFFICE)

NOTIFICATION

Mumbai, the 7th November, 2017

No. FEMA 20(R)/ 2017-RB

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017

G.S.R. 1374(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) and in supersession of Notification No. FEMA 20/2000-RB and Notification No. FEMA 24/2000-RB both dated May 3, 2000, as amended from time to time, the Reserve Bank makes the following regulations to regulate investment in India by a Person Resident Outside India, namely:—

1. Short title and commencement

(1) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017.

(2) They shall come into effect from the date of their publication in the Official Gazette except proviso (ii) to sub-regulation 1 of regulation 10 of these Regulations and proviso (ii) to sub-regulation 2 of regulation 10 of these Regulations which will come into effect from a date to be notified.

Read whole notification below:

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017