Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) (Amendment) Regulations, 2019 - 22 (R)/(2)/2019-RB - Foreign Exchange Management

RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION No. FEMA 22 (R)/(2)/2019-RB Mumbai, the 21st January, 2019 Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) (Amendment) Regulations, 2019 G.S.R. 40(E). -In exercise of the powers conferred by sub-section (6) of Section 6 of the Foreign Exchange Management Act, 1999 (42 of 1999) the Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2016 [ Notification No. FEMA 22(R)/RB-2016 dated March 31, 2016 ], namely: 1. Short Title Commencement:- (i) These Regulations may be called the Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) (Amendment) Regulations, 2019. (ii) They shall come into force from the date of publication in the official Gazette. 2. Amendment to Regulation 5 In Regulation 5, in clause (c) for the existing proviso, the following shall be substituted namely: Provided that approval of the Reserve Bank of India is not required in case where Government approval or license/permission by the concerned Ministry/Regulator has already been granted. Further, in the case of proposal for opening a project office relating to defence sector, no separate reference or approval of Government of India shall be required if the said non-resident applicant has been awarded a contract by/entered into an agreement with the Ministry of Defence or Service Headquarters or Defence Public Sector Undertakings. [F. No. 16/13/EM/2014-Part-I] R. K. MOOLCHANDANI, Chief General Manager Foot Note : The Principal Regulations were published in the Official Gazette vide G.S.R. No. 384(E) dated March 31, 2016.