Foreign Exchange Management (Acquisition and transfer of immovable property outside India)(Amendment) Regulations, 2003

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..... ange Control Department Central Office Mumbai - 400 001 Notification No. FEMA/ 103 /2003-RB Dated the 13 th October 2003 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 29.10.2003 - G.S.R. No. 848(E) In exercise of the powers conferred by clause (h) of sub-section(3) of Section 6 and Section 47 of the Foreign .....

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..... ulation (2) of the following shall be added, namely; '(3) Reserve Bank may, on an application made to it, permit a company incorporated in India having overseas offices, to acquire immovable property outside India for its business and for residential purposes of its staff, subject to such terms and conditions as may be considered necessary.' (Usha Thorat) Executive Director G.S.R.No.848( .....

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