Receipt from, and payment to, a person resident outside India - 039/2001 - Foreign Exchange Management

Receipt from, and payment to, a person resident outside India RESERVE BANK OF INDIA (EXCHANGE CONTROL DEPARTMENT) CENTRAL OFFICE MUMBAI 400 001 Notification No. FEMA/ 39 /2001-RB Dated February 27, 2001 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 28.06.2001 - G.S.R. No. 483(E) In pursuance of the provisions of Section 3 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in partial modification of its Notification No.FEMA/16/RB-2000 dated 3 rd May 2000 (hereinafter referred to as 'the said Notification'), the Reserve Bank hereby directs that the said Notification shall with immediate effect be amended as under, namely :- In paragraph 3, word 'non' shall be inserted before the words 'whole time director.' Sd/- ( D.P. SARDA ) Executive Director