Regulation 2 - Definitions - Foreign Exchange Management (Debt Instruments) Regulations, 2019

Definitions : - 2. In these Regulations, unless the context otherwise requires,:- (a) Act means the Foreign Exchange Management Act, 1999 (42 of 1999) ; (b) asset reconstruction company means a company registered with the Reserve Bank under section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); (c) authorised dealer includes a person authorised under sub-section (1) of section 10 of the Act; (d) debt instruments means the instruments listed under Schedule 1 of the regulations; (e) foreign central bank means an institution or organisation or body corporate established in a country outside India and entrusted with the responsibility of carrying out central bank functions under the law for the time being in force in that country; (f) FCNR (B) account means a Foreign Currency Non-Resident (Bank) account maintained in accordance with the Foreign Exchange Management (Deposit) Regulations, 2016 ; (g) FPI or Foreign Portfolio Investor means a person registered in accordance with the provisions of the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014 ; (h) Indian company means a company incorporated in India; (i) Indian entity shall mean an Indian company or a LLP ; 1 [ (ia) Infrastructure Investment Trust or InvIT means a business trust as defined in sub-clause (i) of clause 13A of section 2 of the Income-tax Act, 1961 . ] (j) investment means to subscribe, acquire, hold or transfer any debt instrument or unit issued by a person resident in India; (k) investment on repatriation basis means an investment, sale or maturity proceeds of which are net of taxes, eligible to be repatriated out of India, and the expression investment on non-repatriation basis , shall be construed accordingly; (l) mutual fund means an entity governed by the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 ; (m) LLP means a limited liability partnership formed and registered under the Limited Liability Partnership Act, 2008 (6 of 2009) ; (n) listed Indian company means an Indian company which has any of its equity instruments or debt instruments listed on a recognised stock exchange in India and the expression unlisted Indian company shall be construed accordingly; (o) municipal bonds mean debt instruments issued by municipalities constituted under Article 243Q of the Constitution of India ; (p) NRI or Non-Resident Indian means an individual resident outside India who is a citizen of India; (q) OCI or Overseas Citizen of India means an individual resident outside India who is registered as an Overseas Citizen of India Cardholder under section 7(A) of the Citizenship Act, 1955 ( 57 of 1955); 2 [ (qa) Real Estate Investment Trust or REIT means a business trust as defined in sub-clause (ii) of clause 13A of section 2 of the Income-tax Act, 1961 . ] (r) unit means a beneficial interest of an investor in a mutual fund; (s) venture capital fund means a fund established in the form of a trust, a company including a body corporate and registered under the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 . (2) The words and expressions used but not defined in these regulations shall have the same meanings respectively assigned to them in the Act, rules and regulations. **************** NOTES:- 1 . Inserted vide Notification No. FEMA.396(1)/2021-RB dated 13-10-2021 , w.e.f. 13-10-2021. 2 . Inserted vide Notification No. FEMA.396(1)/2021-RB dated 13-10-2021 , w.e.f. 13-10-2021.