Foreign Exchange Management Act, 1999 - Amendments - FEMA - 019

Foreign Exchange Management Act, 1999 - Amendments RBI/2004-05/230 A.P.(DIR Series) Circular No. 19 October 20, 2004 To All Banks Authorised to Deal in Foreign Exchange Madam/ Sirs, Foreign Exchange Management Act, 1999 - Amendments Attention of Authorised Dealer Banks is invited to the A.P.(DIR Series) circular No.11 dated September 13, 2004, wherein it was mentioned that necessary amendment/s to the Foreign Exchange Management Regulations, 2000 were being issued separately. The relevant amendment Notification issued by Reserve Bank and notified by the Government in the Official Gazette, as indicated below is enclosed. Sr. No. Details of the Circular FEMA Notification No. and date Subject No./date/subject G.S.R. No. 1. A.P. (DIR Series) Circular 11/13.9.2004 Foreign Investments in India FEMA.No.122/2004-RB dated 30.8.2004 Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Fourth Amendment) Regulations, 2004 625(E) 21.9.2004 2. A reference is also invited to Annex I, item 11 of Master Circular No.2/2004-05 on Risk Management and Inter-Bank Dealings, dated July 1, 2004, indicating Notification No.FEMA.105/2000-RB dated October 21, 2003, a copy of which is enclosed. 3. Authorised Dealer Banks may bring the contents of this circular to the notice of their constituents and customers concerned. 4. The direction contained in this circular has been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, Grace Koshie Chief General Manager