Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Second Amendment) Regulations, 2005

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..... T) CENTRAL OFFICE MUMBAI-400 001 Notification No. FEMA 135/2005-RBI dated : May 17, 2005 In exercise of the powers conferred by clause (a) of Sub-section (3) of Section 6 and Sub-section (2) of Section 47 of the Foreign Exchange Management Act 1999, (42 of 1999) and in partial modification of its Notification No.FEMA120/RB-2004 dated 7th July 2004, the Reserve Bank of India makes the .....

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..... owing shall be reckoned, namely:' (b) For sub clause (a), the following shall be substituted : '(a) remittance by market purchases, namely in freely convertible currencies; in case of Bhutan, investment made in freely convertible currencies or equivalent Indian Rupees; in case of Nepal investment made only in Indian Rupees.' ii. In Regulation 15, after clause (ii) the following proviso may b .....

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