Foreign Exchange Management (Guarantees) (Amendment) Regulations, 2012 – Amendment in Regulations 2 And 4

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..... ferred by clause (j) of sub-section (3) of Section 6, and 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 (Guarantees) Regulations, 2000 (Notification No. FEMA 8/2000-RB dated May 3, 2000), namely:- Short Title and Commencement 1. (a) These Regulations may b .....

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..... out of a 'buy' transaction". Amendment of Regulation 4 3. In Regulation 4, after sub-regulation (3), the following new sub-regulation shall be added and it shall be deemed to have been added with effect from April 29, 2011, namely:- "(4) An authorised dealer (custodian bank), subject to the directions issued by the Reserve Bank, from time to time, may issue Irrevocable Payment Commitments (IPC .....

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..... issued by the Reserve Bank from time to time and also comply with the instructions issued by Department of Banking Operations and Development, Reserve Bank of India (DBOD), from time to time. [No. FEMA 227/2012-RB] MEENA HEMCHANDRA, Chief General Manager-in-Charge Foot Note:- (i) The Principal regulation were published in the Official Gazette vide No. G.S.R. 391(E), dated May, 5, 2000 in Part I .....

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