Regulation 20A - Acquisition or Setting up of a JV or WOS abroad by resident individual - Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004

1 [20A. Acquisition or Setting up of a JV or WOS abroad by resident individual A resident individual (single or in association with another resident individual or with an 'Indian Party' as defined in this Notification) satisfying the criteria as per Schedule V of this Notification, may make overseas direct investment in the equity shares and compulsorily convertible preference shares of a Joint Venture (JV) or Wholly Owned Subsidiary (WOS) outside India.] -------------------------------------- Notes: 1. Inserted vide NOTIFICATION No. 263/RB-2013 dated March 5, 2013