Foreign Exchange Management (Foreign Currency Accounts by a person Resident in India) (Amendment) Regulations, 2004 - 113/2004 - Foreign Exchange Management

Foreign Exchange Management (Foreign Currency Accounts by a person Resident in India ) (Amendment) Regulations, 2004 [A.P.(DIR Series) Circular No.97 dated June 21, 2004] RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE MUMBAI 400 001. Notification No.FEMA.113/ 2004-RB Dated 6 March 2004 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 Notification No.FEMA 10/2000-RB dated May 3, 2000 as amended from time to time, Reserve Bank of India makes the following Regulations to amend the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Amendment) Regulations, 2004 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) ( Amendment) Regulations,2004. (ii) They shall come into force from 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 sub-para (iv) of para 3 of the Schedule, the words "not exceeding US $ 3 million" shall be deleted. ( Shyamala Gopinath ) Executive Director G.S.R.No.209(E) dated 23.3.2004