Foreign Exchange Management (Foreign Currency Account by a person Resident in India) (Amendment) Regulations, 2002 - 077/2002 - Foreign Exchange Management

Foreign Exchange Management (Foreign Currency Account by a person Resident in India ) (Amendment) Regulations, 2002 Reserve Bank of India Exchange Control Department Central Office Mumbai 400 001 Notification No.FEMA.77/2002-RB November 25, 2002 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 18.03.2003 - G.S.R. No. 224(E) In exercise of the powers conferred by clause (b) of Section 9 and clause (e) 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 10/2000-RB dated 3 rd May, 2000, Reserve Bank of India makes the following amendments to Foreign Exchange Management (Foreign Currency Accounts by a person Resident in India) Regulations, 2000, namely; 1. Short title and commencement i. These Regulations may be called the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Sixth Amendment) Regulations, 2002. ii. They shall come into force on the date of their publication in the official Gazette. 2. Amendment to the Regulations In the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000 in the Schedule, in paragraph 1, in sub-paragraph (1A), in clause (ii), after the words "to a unit in Domestic Tariff Area", the following words shall be added, namely, "and also payments received in foreign exchange by a unit in Domestic Tariff Area for supply of goods to a unit in Special Economic Zone (SEZ)." K.J. Udeshi Executive Director