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Regulation 4 - Exemptions - Foreign Exchange Management (Acquisition and transfer of immovable property outside India) Regulations, 2015Extract Exemptions:- 4. Nothing contained in these regulations shall apply to the property - (a) held by a person resident in India who is a national of a foreign state; (b) acquired by a person resident in India on or before 8 th July 1947 and continued to be held by him with the permission of the Reserve Bank.
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