Foreign Exchange Management Act, 1999 - FEMA - 097

Foreign Exchange Management Act, 1999 RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICEMUMBAI - 400 001 RBI/2004/258 A.P.(DIR Series) Circular No.97 June 21, 2004 To All Authorised Dealers in Foreign Exchange Madam / Sirs, Foreign Exchange Management Act, 1999 Attention of Authorised Dealers is invited to the list of A.P.(DIR Series) circulars Annexed. 2. It was mentioned in these circulars that necessary amendments to the Foreign Exchange Management Regulations, 2000 were being issued separately. The relevant amendments have since been issued by Reserve Bank and notified by the Government, in the Official Gazette, as indicated in the Annex. A copy each of these Notifications is enclosed. 3. Authorised Dealers may bring the contents of this circular to the notice of their constituents and customers concerned. 4. The directions contained in this circular have been issued under section 10(4) and section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Yours faithfully, Grace Koshie Chief General Manager Annex [A.P.(DIR Series) Circular No.97 dated June 21, 2004] I. Reserve Bank Notifications - Amendment to Foreign Exchange Management Regulations, 2000 issued under the Foreign Exchange Management Act, 1999 Sr. No. A.P. DIR (Series) Circular FEMA Notification No. and date Subject No./date/subject G.S.R. No. 1. 2. 3. 4. 5. 1. 38/3.12.2003 Foreign Investment in India - Recent liberalisation measures relating to Foreign Direct Investment - Summary of Regulations/Provisions covering Foreign Investment in India. FEMA.No.45/2001-RB dated 20.9.2001 Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2001 574 (E) 19.8.2002 2. 47/17.5.2002 Foreign Exchange Management Act 1999 - Insurance FEMA.No.61/2002-RB dated 2.5.2002 Foreign Exchange Management (Issuance) (Amendment) Regulations, 2002 477(E) 8.7.2002 3. 91/1.4.2003 Export of Goods and Services - Facilities to Units in Special Economic Zones (SEZs) FEMA.No.98/2003-RB dated 27.8.2003 Foreign Exchange Management (Manner of Receipt and Payment) (Amendment) Regulations, 2003 772(E) 29.9.2003 4. 91/1.4.2003 Export of Goods and Services - Facilities to Units in Special Economic Zones (SEZs) FEMA.No.99/2003-RB dated 27.8.2003 Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2003 773 (E) 29.9.2003 5. 21/16.9.2002 Disposal of Duplicate Copies of Export Declaration Forms FEMA.No.107/2003-RB dated 29.10.2003 Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2003 900(E) 22.11.2003 6. 53/17.12.2003 Purchase/sale of share and/or Convertible Debentures by SEBI registered Foreign Institutional Investors (FIIs) under Portfolio Investment Scheme (PIS) FEMA.No.108/2003-RB dated 22.12.2003 Foreign Exchange Management (Transfer or Issue of Security by a Person resident outside India) (Fifth Amendment) Regulations, 2003 12(E) 7.1.2004 7. 64/4.2.2004 Liberalised Remittance Scheme of USD 25,000 for Resident Individuals FEMA.No.110/2004-RB dated 5.2.2004 Foreign Exchange Management (Permissible Capital Account Transaction) (Amendment) Regulations, 2004 207(E) 23.3.2004 8. 78/14.2.2003 Exchange Earners' Foreign Currency (EEFC) Account Scheme FEMA.No.113/2004-RB dated 6.3.2004 Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Amendment) Regulations, 2004 209(E) 23.3.2004