FEMA (Transfer or issue of any Foreign Security) (Second Amendment) Regulations, 2012 - Amendment in regulation 21 - 231/2012-RB - Foreign Exchange Management

FEMA (Transfer or issue of any Foreign Security) (Second Amendment) Regulations, 2012 - Amendment in regulation 21 NOTIFICATION NO. FEMA 231/2012-RB DATED 30-5-2012 G.S.R. 609(E),- In exercise of the powers conferred by clause (a) 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 of Issue of any Foreign Security) Regulations, 2004 ( Notification No. FEMA 120/RB-2004, dated July 7, 2004 ), namely :- Short title and commencement. 2. (a) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of any foreign Security) (Amendment) Regulations, 2012. (b) They shall be deemed to have come into force from the dates specified in these regulations@. Amendment of Regulation 21. 3. In the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 ( Notification No. FEMA 120/RB-2004, dated July 7, 2004 ) (hereinafter referred to as 'the principal regulations'), (A) in Regulation 21 :- (i) in sub-regulation (2), in clause (i), for the word and figures "USD 500 Million", the words and figures "USD 750 Million" shall be substituted and the same shall be deemed to have been substituted with effect from 23rd day of September 2011. (ii) in clause (ii), for the word and figures "US $ 500 Million", the words and figures "USD 750 Million" shall be substituted and the same shall be deemed to have been substituted with effect from 23rd day of September 2011. (B) In Schedule I , in clause (ii), for the word and figures ''USD 500 Million", the words and figures "USD 750 Million" shall be substituted and the same shall be deemed to have been substituted with effect from 23rd day of September 2011.