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

RESERVE BANK OF INDIA

(FOREIGN EXCHANGE DEPARTMENT)

(CENTRAL OFFICE)

NOTIFICATION No. FEMA. 292/2013-RB

Mumbai, the 4^th October, 2013

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

G.S.R. 683 (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), 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) (Sixteenth Amendment) Regulations, 2013.

(ii) They shall deemed to have come into force from June 3, 2013@

2. Amendment of Regulation 2

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 2, after the clause (iv), the following shall be inserted, namely:-

(iva) ‘Group company’ means two or more enterprises which, directly or indirectly, are in a position to :

(i) exercise twenty-six per cent, or more of voting rights in other enterprise; or

(ii) appoint more than fifty per cent, of members of board of directors in the other enterprise.”

C.D. SRINIVASAN

Chief General Manager

Foot Note:-

(i) @ It is clarified that no person will be adversely affected as a result of the retrospective effect being given to these Regulations.

(ii) 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.821(E) dated 10.11.2012

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. 945(E) dated 31.12.2012

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

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

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

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

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

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

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

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

G.S.R.No. 591(E) dated 04.09.2013

G.S.R.No. 596(E) dated 06.09.2013

G.S.R.No. 597(E) dated 06.09.2013