Foreign Exchange Management (Foreign Currency Account by a Person Resident in India)(Second Amendment) Regulations, 2003 - 089/2003 - Foreign Exchange Management

Foreign Exchange Management (Foreign Currency Account by a Person Resident in India )(Second Amendment) Regulations, 2003 Reserve Bank Of India (Exchange Control Department) Central Office Mumbai 400 001 Notification No.FEMA.89/2003-RB dated April 29, 2003 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 03.06.2003 - G.S.R. No. 452(E) In exercise of the powers conferred by clause (b) of Section 9 and clause (e) of sub-section (2) of Section 47 and in partial modification of its Notification No.FEMA 10/2000-RB dated 3 rd May 2000 the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Foreign Currency Account by a Person Resident in India) Regulations 2000 namely: 1. Short title and commencement (a) These Regulations may be called the Foreign Exchange Management (Foreign Currency Account by a Person Resident in India) (Second Amendment) Regulations, 2003. (b) They shall come into force from the date of their publication in the Official Gazette. 2. Amendment of the Regulation In the Foreign Exchange Management (Foreign Currency Account by a Person Resident in India) Regulations 2000, in sub-regulation 8 of Regulation 7, for the words 'A national of a foreign State resident in India being an employee of a foreign company on deputation', the words 'A national of a foreign State resident in India being an employee of a foreign company or a citizen of India employed by a foreign company outside India and in either case on deputation' shall be substituted. ( K.J. Udeshi ) Executive Director Related AP (Dir) Circular A.P.(DIR Series) Circular No.17 "Foot-note: The Principal Regulations were published in the official gazette vide G.S.R. No. 393(E) dated May 5, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended vide G.S.R. No. 675(E) dated August 25, 2000, G.S.R. No. 89(E) dated February 12, 2001, G.S.R. No. 103(E) dated February 19, 2001, G.S.R. No. 200(E) dated March 21, 2001, G.S.R. No. 5(E) dated January 2, 2002, G.S.R. No. 261(E) dated April 9, 2002, G.S.R. No. 465(E) dated July 2, 2002, G.S.R. No. 474(E) dated July 8, 2002, G.S.R. No. 755(E) dated November 8, 2002 and G.S.R. No. 756(E) dated November 8, 2002, G.S.R. No. 756(E), G.S.R. No. 224(E) dated March 18, 2003 and G.S.R. No. 398(E) dated May 14, 2003.' That as rectified and modified as aforesaid, the Principal Regulations shall remain in full force and effect. G.S.R. No. 711(E)/29.10.2004