Regulation 2 - Definitions - Foreign Exchange Management (Establishment In India of Branch Or Office or Other Place of Business) Regulations, 2000

2. Definitions:- In these regulations, unless the context otherwise requires - (a) 'Act' means the Foreign Exchange Management Act, 1999 ( 42 of 1999); 3 [(aa) authorised dealer means a person authorised as an authorised dealer under sub-section (1) of Section 10 of the Act.] (b) 'foreign company' means a body corporate incorporated outside India, and includes a firm or other association of individuals; (c) 'Branch' shall have the meaning assigned to it in sub-section (9) of Section 2 of the Companies Act, 1956 (1 of 1956), (d) 'form' means a form annexed to these Regulations; (e) 'Liaison Office' means a place of business to act as a channel of communication between the Principal place of business or Head Office by whatever name called and entities in India but which does not undertake any commercial /trading/ industrial activity, directly or indirectly, and maintains itself out of inward remittances received from abroad through normal banking channel; (f) 'Project Office' means a place of business to represent the interests of the foreign company executing a project in India but excludes a Liaison Office; (g) 'Site Office' means a sub-office of the Project Office established at the site of a project but does not include a Liaison Office; 1 (h) 'Stand alone basis' means such branch offices would be isolated and restricted to the Special Economic Zone alone and no business activity/ transaction will be allowed outside the Special Economic Zones in India which includes branches/subsidiaries of its parent office in India. 2 (i) the words and expressions used but not defined in these Regulations, shall have the same meanings respectively assigned to them in the Act. ***************************** Notes : 1. Has been inserted vide Notification No. 102/2003 dated 3/10/2003 2. The existing clause (h) has been renumbered as (i) vide Notification No. Supra 3. Inserted vide notification no. 218/2011 RB dated 19-1-2011 , w.e.f. 1.2.2010