Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Second Amendment) Regulations, 2002

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..... T) CENTRAL OFFICE MUMBAI 400 001 Notification No.FEMA. 49 /2002-RB dated January 19, 2002 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 09.04.2002 - G.S.R. No. 259(E) In exercise of the powers conferred by clause (a) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 ( .....

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..... that the ceiling of US $ 50 million shall not apply to financial commitment by a unit located in a Special Economic Zone where the investment is made out of balances held in its EEFC account, maintained in accordance with the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000, as amended from time to time. Sd/- (K.J.Udeshi) Executive D .....

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