Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Second Amendment) Regulations, 2007

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..... FICATION NO. G.S.R. 713(E) [FEMA 167/2007-RB], DATED 23-10-2007 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 Management (Transfer or Issue of Security by a Person Resident Outside India) Re .....

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..... erted, namely :— "( ii ) Notwithstanding anything contained in sub-regulation ( i ) above, a person who is a citizen of Bangladesh or an entity incorporated in Bangladesh may, with the prior approval of the Foreign Investment Promotion Board of the Government of India, purchase shares and convertible debentures of an Indian company under Foreign Direct Investment Scheme, subject to the terms and .....

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