Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2009 - 182/RB-2009 - Foreign Exchange Management

Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2009 MINISTRY OF FINANCE (Department of Economic Affairs) RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 13th January, 2009 No. FEMA 182/RB-2009 Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2009 G.S.R. 61(E).- In exercise of the powers conferred by clause (d) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank hereby makes the following amendments in the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, (Notification No. FEMA 3/RR-2000 dated May 3, 2000), namely:- 1. Short Title and Commencement.- (i) These Regulations may be called the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2009. (ii) They shall be deemed to have come into effect from the 15th day of October, 2008 @ . 2. Amendment of Regulation 4.- In the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 (Notification No. FEMA 3/RB-2000 dated May 3, 2000), in Regulation 4, in sub-regulation (2)(i), the worth "twenty five percent" shall be substituted by the words "fifty percent" and shall be deemed to have been substituted with effect from the 15th day of October, 2008. [F. No. 1/23/EM/2000-Vol. IV] SALIM GANGADHARAN, Chief General Manager-in-Charge Footnote :— 1. @ It is clarified that no person will be adversely affected as a result of retrospective effect being given to these regulations. 2. The principal regulations were published in the Official Gazette vide No. G.S.R. 386(E) dated 5th, May, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended vide:- No. G.S.R. 674(E) dated 25-8-2000 No. G.S.R. 476(E) dated 8-7-2002 No. G.S.R. 854(E) dated 31-12-2002 No. G.S.R. 531(E) dated 9-7-2003 No. G.S.R. 533(E) dated 9-7-2003 No. G.S.R. 208(E) dated 23-3-2004 No. G.S.R. 825(E) dated 22-12-2004 No. G.S.R. 60(E) dated 9-2-2005 No. G.S.R. 739(E) dated 22-12-2005 No. G.S.R. 663(E) dated 16-10-2007