Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Amendment) Regulations, 2019 - FEMA 20(R)5/2019-RB - G.S.R. 164(E) - Foreign Exchange Management

RESERVE BANK OF INDIA (Financial Markets Regulations Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 26th February, 2019 Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Amendment) Regulations, 2019 G.S.R. 164(E).- In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and clause (h) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No. FEMA 20 (R)/2017-RB dated November 07, 2017 , the Reserve Bank makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 , as amended from time to time, namely :- 2. Short title and commencement: - (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Amendment) Regulations, 2019. (ii) They shall come into force with effect from the date of their publication in the Official Gazette. 3. Amendment of the Regulation : - a. In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 the Note to clause 5 of Para No. 5 shall be deleted. b. In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 after the clause (5) of Para No. 5 the following clause shall be inserted: - (5)(a) A Foreign Portfolio Investor or a Non-Resident Indian (NRI) or an Overseas Citizen of India (OCI) may trade or invest in all exchange traded derivative contracts approved by Securities and Exchange Board of India from time to time subject to the limits prescribed by Securities and Exchange Board of India and conditions specified in Schedule 5 c. In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 after the clause (5)(a) of Para No. 5 the following clause shall be inserted: - (5)(b) A Foreign Portfolio Investor may enter into contract in any interest rate derivative subject to conditions laid down by the Reserve Bank from time to time. [No. FEMA 20(R)5/2019-RB] T. RABI SANKAR, Chief General Manager