Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) (fifth Amendment) Regulations, 2014 - 304/2014-RB - Foreign Exchange Management

Reserve Bank of India Foreign Exchange Department Central office Mumbai Notification No.FEMA. 304/2014-RB. May 22, 2014 Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) (fifth Amendment) Regulations, 2014 G.S.R. No.371(E) - In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000 ( Notification No. FEMA.20/2000-RB dated May 3, 2000 ), namely:- 1. Short Title Commencement (a) These Regulations may be called the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) (fifth Amendment) Regulations, 2014. (b) They shall come into force from the date of their publication in the Official Gazette. 2. Amendment to Schedule 5 In the Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000 ( Notification No.FEMA.20/2000-RB dated May 3, 2000 ), in Schedule 5 , (A) in paragraph 1, after the existing clause (k) and before the existing proviso, the following shall be inserted, namely:- (l) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations. (B) in paragraph 1A, in clause (v), after sub-clause (h), the following shall be inserted, namely:- (i) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations. (C) in paragraph 1B, in clause (iii), after sub-clause (j), the following shall be inserted, namely:- (k) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations. (D) in paragraph 1C, in clause (1), after sub-clause (k), the following shall be inserted, namely:- (l) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2)of these Regulations. (E) in paragraph 2, (a) in clause (1A), after sub-clause (iv), the following shall be added, namely:- (v) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations. (b) in clause (2) the following shall be added, namely:- A Non-resident Indian may, without limit, purchase on non-repatriation basis, listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations. (C.D.Srinivasan) Chief General Manager