CORRIGENDUM - Notification No. FEMA. 362/2016-RB dated February 15, 2016

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..... hange Department No. FEMA. 362/2016-RB dated February 15, 2016 bearing G.S.R.No. 166(E) and published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) (hereinafter referred as Gazette Notification) 2. In paragraph 2(C) (iv), S. No. 9.3 and 9.3.1 shall be substituted as under: 9.3 Air Transport Services (1) (a) Scheduled Air Transport Service .....

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..... -up capital. Such investment would be subject to the following conditions: (i) It would be made under the Government approval route. (ii) The 49% limit will subsume FDI and FII/FPI investment. (iii) The investments so made would need to comply with the relevant regulations of SEBI, such as the Issue of Capital and Disclosure Requirements (ICDR) Regulations/ Substantial Acquisition of Shares and .....

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..... Civil Aviation. Note: (i) The FDI limits/entry routes, mentioned at paragraph 9.3(1) and 9.3(2) above, are applicable in the situation where there is no investment by foreign airlines. (ii) The dispensation for NRIs regarding FDI up to 100% will also continue in respect of the investment regime specified at paragraph 9.3.1(c) (ii) above. (iii) The policy mentioned at 9.3.1(c) above is not appli .....

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