Regulation 5 - Prohibition on Direct Investment outside India - Foreign Exchange Management (Transfer Or Issue of Any Foreign Security) Regulations, 2000

Has been superseded vide Notification No. 120/2004 dated 7/7/2004 Part I Direct Investment outside India 5. Prohibition on Direct Investment outside India Save otherwise provided in the Act, rules or regulations made or directions issued thereunder, or with prior approval of Reserve Bank, (1) no person resident in India shall make any direct investment outside India; and (2) no Indian party shall make any direct investment in a foreign entity engaged in real estate business or banking business.