FEMA (Transfer or issue of Security by a Person Resident outside India) (Fifth Amendment) Regulations, 2012. - Amendment in Regulation 10 - Value of Security to be Transferred by the Donor Together with Any Security Transferred to Any Person Residing Outside India as gift during the financial year - FEMA 236/2012-RB - Foreign Exchange Management

RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 25 th September, 2012 Amendment in Regulation 10 - Value of Security to be Transferred by the Donor Together with Any Security Transferred to Any Person Residing Outside India as gift during the financial year G.S.R. 945(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 3rd May, 2000 ), namely:- Short Title and Commencement 1. (i) These Regulations may be called the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) (Fifth Amendment) Regulations, 2012. (ii) They shall be deemed to have come into effect from the 15th day of September 2011. Amendment to the Regulations 2. In the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000 , in regulation 10, in sub-regulation A , in clause (a), for sub-clause (e), the following shall be substituted, namely: "e. The value of security to be transferred by the donor together with any security transferred to any person residing outside India as gift during the financial year does not exceed the rupee equivalent of US $ 50,000." [No. FEMA 236/2012-RB] RUDRA NAYARAN KAR, Chief General Manager ____________ Notes:- 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. 406(E), dated May, 8, 2000 in Part II, Section (i) and subsequently amended as under: GSR No. 158(E), dated 02.03.2001 GSR No. 175(E), dated 13.03.2001 GSR No. 182(E), dated 14.03.2001 GSR No. 4(E), dated 02.01.2002 GSR No. 574(E), dated 19.08.2002 GSR No. 223(E), dated 18.03.2003 GSR No. 225(E), dated 18.03.2003 GSR 558(E), dated 22.07.2003 GSR No. 835(E), dated 23.10.2003 GSR No. 899(E), dated 22.11.2003 GSR No. 12(E), dated 07.01.2004 GSR No. 278(E), dated 23.04.2004 GSR No. 454(E), dated 16.07.2004 GSR No. 625(E), dated 21.09.2004 GSR No. 799(E), dated 08.12.2004 GSR No. 201(E), dated 01.04.2005 GSR No. 202(E), dated 01.04.2005 GSR No. 504(E), dated 25.07.2005 GSR No. 505(E), dated 25.07.2005 GSR No. 513(E), dated 29.07.2005 GSR 738(E), dated 22.12.2005 GSR No. 29(E), dated 19.01.2006 GSR No. 413(E), dated 11.07.2006 GSR No. 712(E), dated 14.11.2007 GSR No. 713(E), dated 14.11.2007 GSR No. 737(E), dated 29.11.2007 GSR No. 575(E), dated 05.08.2008 GSR No. 896(E), dated 30.12.2008 GSR No. 851(E), dated 01.12.2009 GSR No. 341(E), dated 21.04.2010 GSR No. 821(E), dated 10.11.2012 GSR No. 606(E), dated 03.08.2012 GSR No. 796(E), dated 30.10.2012 GSR No. 797(E), dated 30.10.2012