Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2006

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..... In exercise of the powers conferred by clause (a) of sub-section (3) of Section 6, sub-section (2) of 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 Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 (Notification No.FEMA.120/RB-2004 dated July 7, 2004), namely:- .....

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..... iso, clause (ii) shall be omitted. (iii) in clause (b), in the proviso, clause (iii) shall be renumbered as clause (ii). 3. Insertion of new regulation 6C : After regulation 6B of the principal regulations, the following regulation shall be inserted, namely, "6C. Investment by Mutual Funds (1) Mutual Funds registered with the Securities and Exchange Board of India, may invest with .....

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..... Note: (i) It is clarified that no person will be affected as a result of retrospective effect being given to this regulation. (ii) The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 were published in the Official Gazette vide G.S.R.No.757 (E) dated November 19, 2004 and subsequently amended vide G.S.R. No.220(E) dated April 7, 2005, G.S.R. No.337(E) .....

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