Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2001

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..... OL DEPARTMENT CENTRAL OFFICE MUMBAI - 400 001 Notification No.FEMA/46/2001-RB Dated November 29, 2001. Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 02.01.2002 - G.S.R. No. 4(E) In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 o .....

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..... (3), the following sub-regulation shall be substituted, namely :- '(3) (i) A Non-resident Indian (NRI) may purchase shares or convertible debentures of an Indian Company on a Stock Exchange under Portfolio Investment Scheme, subject to the terms and conditions specified in Schedule 3, provided that the NRI shall not purchase shares or convertible debentures of an Indian Company which is engaged .....

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..... dy (OCB)' shall be omitted; c. in sub-paragraph (i), for the words 'his/its', the word 'his' shall be substituted; d. sub-paragraph (vii) shall be omitted; iii. for paragraph 2, the following paragraph shall be substituted,namely :- 'The link office of the designated branch of an authorised dealer referred to in paragraph 1 shall furnish to the Chief General Manager, RBI, ECD, Central Offi .....

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