Amendments in Schedule III of Foreign Exchange Management (Current Account Transactions) Rules, 2000 - GSR 731(E) - Foreign Exchange Management

DEPARTMENT OF ECONOMIC AFFAIRS NOTIFICATION DATED 5-9-2003 GSR 731(E): In exercise of the powers conferred by section 5 and sub-section (1) and clause (a) of sub-section (2) of section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in consultation with the Reserve Bank, the Central Government having considered it necessary in the public interest, makes the following amendments in the Foreign Exchange Management (Current Account Transactions) Rules, 2000, namely : Short title and commencement 1. (1) These Rules may be called the Foreign Exchange Management (Current Account Transactions) (Third Amendment) Rules, 2003. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Foreign Exchange Management (Current Account Transactions) Rules, 2000 , in Schedule III, (a) in item Numbers 5, 6 and 7, for the word and figure US $ 5,000 the word and figure US $ 100,000 shall be substituted; (b) in item Number 10 for the word and figure US $ 30,000 the word and figure US $ 1,00,000 shall be substituted; and (c) in item Number 15 for the word and figure US $ 1,00,000 the word and figure US $ 1,00,000 shall be substituted.