Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India)) (Third Amendment) Regulations, 2013

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... dments in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA 20/2000-RB dated 3rd May, 2000) namely :- 1. Short Title & Commencement (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Third Amendment) Regulations, 2013. (ii) They shall come into force from the date of publication in the Official Gazette. 2. Amendment of Schedule 3 In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, (Notification No. FEMA 20/2000-RB dated 3rd May 2000), in Schedule 3, (I) in paragraph 1, in sub-paragraph (i), .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ebentures under this Scheme. NRE(PIS) account shall be opened for investment made on repatriation basis and NRO(PIS) account shall be opened for investment made on non-repatriation basis under the Scheme. The designated branch of an Authorised Dealer bank shall ensure that sale proceeds of shares / convertible debentures which have been acquired by modes other than Portfolio Investment Scheme such as underlying shares acquired on conversion of ADRs/GDRs, shares/ convertible debentures acquired under FDI Scheme, shares/ convertible debentures purchased outside India from other NRIs, shares/ convertible debentures acquired under debentures purchased while resident in India, do not get credited/debited in the NRE(PIS)/NRO (PIS) account opened .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... iation basis under the Scheme and sold on stock exchange through registered broker; and (iv) dividend or income earned on investment made on repatriation basis under the Scheme Debits (i) Outward remittances of dividend or income earned (ii) Amounts paid on account of purchase of shares and convertible debentures on non- repatriation basis on stock exchanges through registered broker under PIS. (iii) Any charges on account of sale/ purchase of shares or convertible debentures under PIS." RUDRA NARAYAN KAR Chief General Manager-in-Charge Foot Note :- The Principal Regulations were published in the Official Gazette vide G.S.R No. 406 (E) dated May 8, 2000 in Part II, Section 3, sub-section (i) and subsequently amended as under .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X