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TMI BlogForeign Exchange Management (Transfer or issue of Security by a Person Resident outside India) ( Fourth Amendment) Regulations, 2005X X X X Extracts X X X X X X X X Extracts X X X X ..... eserve Bank of India Foreign Exchange Department Central Office Mumbai- 400 001 Notification No. FEMA. 137/2005- RB Dated 22 July, 2005 In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Managem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nk for its approval. (ii) The Reserve Bank may grant such approval on being satisfied of the following conditions: a. The donee is eligible to hold such a security under Schedules 1, 4 and 5 of these Regulations. b. The gift does not exceed 5% of the paid up capital of the Indian company/each series of debentures/each mutual fund scheme. c. The applicable sectoral cap/foreign direct inve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issued by a Chartered Accountant on the market value of such securities. e. In case of units of domestic mutual funds and units of Money Market Mutual Funds, a certificate from the issuer on the Net Asset Value of such security. f. In case of shares and debentures, a certificate from a Chartered Account on the value of such securities according to the guidelines issued by the Securities E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 G.S.R.No. 175(E) dated 13.03.2001 G.S.R.No. 182(E) dated 14.03.2001 G.S.R.No. 4(E) dated 02.01.2002 G.S.R.No. 574(E) dated 19.08.2002 G.S.R.No. 223(E) dated 18.03.2003 G.S.R.No. 225(E) dated 18.03.2003 G.S.R.No. 558(E) dated 22.07.2003 G.S.R.No. 835(E) dated 23.10.2003 G.S.R.No. 899(E) dated 22.11.2003 G.S.R.No. 12(E) dated 07.01.2004 G.S.R.No. 278(E) dated 23.04.2004 G.S.R.No. 454(E) dated 16.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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