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TMI BlogForeign Exchange Management (Transfer of Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... hange Management (Transfer of Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2013 G.S.R. 344 (E) - 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) means a company registered with the Reserve Bank of India under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002 (SARFAESI Act) 74% of paid-up capital of ARC (FDI & FII) Government 17.2 Other Conditions: (i) Persons resident outside India, can invest in the capital of Asset Reconstruction Companies (ARCs) registered with R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. 4. Amendment to Schedule 5 In Paragraph 1, the existing clause (e) shall be substituted as under : "(e) Security Receipts issued by Asset Reconstruction Companies provided that the total holdings of all FIIS put together shall not exceed 74% of the paid up value of each tranche of scheme of Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .12.2004 G.S.R.No. 201(E) dated 01.04.2005 G.S.R.No. 202(E) dated 01.04.2005 G.S.R.No. 504(E) dated 25.07.2005 G.S.R.No. 505(E) dated 25.07.2005 G.S.R.No. 513(E) dated 29.07.2005 G.S.R.No. 738(E) dated 22.12.2005 G. S. R. No. 29(E) dated 19.01.2006 G.S.R.No. 413(E) dated 11.07.2006 G.S.R.No. 712(E) dated 14.11.2007 G. S. R. No. 713(E) dated 14.11.2007 G.S.R.No. 737(E) dated 29.11.200 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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