Home Acts & Rules FEMA Regulation FOREIGN EXCHANGE MANAGEMENT (BORROWING OR LENDING IN FOREIGN EXCHANGE ) REGULATIONS, 2000 This
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Regulation 2 - Definitions - FOREIGN EXCHANGE MANAGEMENT (BORROWING OR LENDING IN FOREIGN EXCHANGE ) REGULATIONS, 2000Extract 2. Definitions:- In these regulations, unless the context otherwise requires - (a) ''Act'' means the Foreign Exchange Management Act, 1999 (42 of 1999);. (b) ''authorised dealer'' means a person authorised as an authorised dealer under sub-section (1) of section 10 of the Act; (c) ''EEFC account'', 'RFC account' mean the accounts referred to in the Foreign Exchange Management (Foreign currency accounts by a person resident in India) Regulations, 2000; (d) ''FCNR (B) account'', 'NRE account' mean the accounts referred to in the Foreign Exchange Management (Deposit) Regulations, 2000; (e) ''Indian entity'' means a company or a body corporate or a firm in India; (f) ''Joint Venture abroad'' means a foreign concern formed, registered or incorporated in a foreign country in accordance with the laws and regulations of that country and in which investment has been made by an Indian entity; (g) ''Schedule'' means the Schedule to these Regulations; (h) ''Wholly owned subsidiary abroad'' means a foreign concern formed, registered or incorporated in a foreign country in accordance with the laws and regulations of that country and whose entire capital is owned by an Indian entity; the words and expressions used but not defined in these Regulations shall have the same meaning respectively assigned to them in the Act.
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