Acquisition of Foreign Securities by Resident Individual under ESOP Scheme

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..... Exchange Madam/Sir, Acquisition of Foreign Securities by Resident Individual under ESOP Scheme Attention of authorised dealers is invited to the Regulation 19 of Notification No.FEMA.19/2000-RB dated May 3, 2000 and AP(DIR Series) Circular No.32 dated April 28, 2001 read with A.P. (DIR Series) Circular No.16 dated December 15, 2001 in terms of which a resident individual, who is an employe .....

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..... d not be less than 51 per cent. 3. The above relaxations, subject to review, shall be effective for a period upto June 30, 2003. 4. Necessary amendments to the Foreign Exchange Management Regulations, 2000 are being issued separately. 5. Authorised dealers may bring the contents of the circular to the notice of their constituents concerned. 6. The directions contained in this circular hav .....

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