Permission for Purchase/ Acquisition of Foreign Securities - Clarification

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..... Dear Sirs/Madam, Permission for Purchase/ Acquisition of Foreign Securities - Clarification Attention of authorised dealers is invited to item (e) of paragraph 2 of the AP (DIR Series) circular No. 32 dated April 28,2001. In terms of Regulations 19 of the Reserve Bank Notification No. FEMA.19/2000-RB dated May 3, 2000, as amended from time to time, ADs have been permitted to allow remitta .....

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..... olding is not less than 51 per cent. 3. Authorised dealers may bring the contents of this circular to the notice of their constituents concerned. 4. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Yours faithfully, Grace Koshie Chief General Manager - Circular - Trade Notice - .....

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