SCH II - [Omitted] Regulation 19A - Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004

Schedule II (See Regulation 19A) Overseas Investments - Proprietorship Concerns 2 [***] ***************** NOTES:- 1. Inserted vide Notification No. G.S.R. 13(E) dated 09-10-2007 , w.e.f. 27-03-2006. 2. Omitted vide Notification No. 325/2014-RB - dated 12-11-2014 , w.e.f. 12-11-2014 before it was read as, 1 [Schedule II (See Regulation 19A) Overseas Investments - Proprietorship Concerns Criteria for considering investment proposals outside India by established proprietorship or unregistered partnership exporter firms; (i) The Partnership / Proprietorship firm is a DGFT recognised Star Export House (export exceeding Rs. 15 crore per annum), (ii) The Authorised Dealer bank is satisfied that the exporter is KYC (Know Your Customer) compliant, is engaged in the proposed business and has turnover as indicated, (iii) Exporter has proven track record i.e. export outstanding does not exceed 10 per cent of the average export realisation of the preceding three years. (iv) The exporter has not come under the adverse notice of any Government agency like Directorate of Enforcement, Central Bureau of Investigation and does not appear in the exporters caution list of the Reserve Bank or in the list of defaulters to the banking system in India. (v) The amount of investment outside India does not exceed 10 per cent of the average of three years export realisation or 200 per cent of the net owned funds of the firm, whichever is lower.