Regulation 3 - Prohibition on issue or transfer of foreign security - Foreign Exchange Management (Transfer Or Issue of Any Foreign Security) Regulations, 2000

Has been superseded vide Notification No. 120/2004 dated 7/7/2004 3. Prohibition on issue or transfer of foreign security Save as otherwise provided in the Act or rules or regulations made or directions issued thereunder, no person resident in India shall issue or transfer any foreign security:- Provided that the Reserve Bank may, on application made to it, permit any person resident in India to issue or transfer any foreign security.