Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2001

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..... INDIA EXCHANGE CONTROL DEPARTMENT CENTRAL OFFICE MUMBAI - 400 001 Notification No.FEMA/46/2001-RB Dated November 29, 2001. Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 02.01.2002 - G.S.R. No. 4(E) In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign .....

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..... ations'), in Regulations 5, for sub-regulation (3), the following sub-regulation shall be substituted, namely :- '(3) (i) A Non-resident Indian (NRI) may purchase shares or convertible debentures of an Indian Company on a Stock Exchange under Portfolio Investment Scheme, subject to the terms and conditions specified in Schedule 3, provided that the NRI shall not purchase shares or convertible de .....

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..... ubstituted; b. the words 'or an Overseas Corporate Body (OCB)' shall be omitted; c. in sub-paragraph (i), for the words 'his/its', the word 'his' shall be substituted; d. sub-paragraph (vii) shall be omitted; iii. for paragraph 2, the following paragraph shall be substituted,namely :- 'The link office of the designated branch of an authorised dealer referred to in paragraph 1 shall .....

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