Regulation 25 - Prior permission of Reserve Bank in certain cases - Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004

25. Prior permission of Reserve Bank in certain cases A person resident in India being an individual seeking to acquire qualification shares in a company outside India beyond the limits laid down in the proviso to clause (a) of sub-regulation (1) of Regulation 24 shall apply to the Reserve Bank for prior approval. A person resident in India being an individual seeking to acquire qualification shares in a company outside India beyond the limits laid down in the proviso to clause (a) of sub-regulation (1) of Regulation 24 shall apply to the Reserve Bank for prior approval.