TMI BlogForeign Exchange Management (Transfer or Issue of Security by a Person Resident outside India )(Second Amendment) Regulations,2005X X X X Extracts X X X X X X X X Extracts X X X X ..... VE BANK OF INDIA (FOREIGN EXCHANGE DEPARTMENT) CENTRAL OFFICE MUMBAI 400 001 Notification No.FEMA.131/2005-RB dated March 17, 2005 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 of 1999 ) and in partial modification of its Notification NO.FEMA.20/2000-RB dated 3rd May 2000, the Reserve Ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... use (b) shall be substituted as under; namely: ' (b) any share /convertible debenture of an Indian Company whose activities fall under Annexure B to Schedule 1, other than item nos.1 ,2 and 3 and subject to the Sectoral Limits specified therein, shall transfer such shares I debentures without prior approval of Government and RBI if the same is by way of sale subject to the following: (i) tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as the case may be. ' (B) in sub-regulation B (i) clause (1) shall be deleted; clause (2) shall be substituted; namely 'A person resident outside India, may transfer share or convertible debenture of an Indian company ,without the prior permission of the Reserve Bank ,by way of sale, to a person resident in India subject to the adherence to pricing guidelines, documentation and reportin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion(i) and subsequently amended as under: G.S..R No. 158 (E) dated 2.3.2001 G.S.R.No. 175(E}dated 13.3.2001 G.S.R.No. 182(E dated 14.3.2001 G.S.R.No. 4(E) dated 2.1.2002 G.S.R.No. 574(E) dated 19.8.2002 G.S.R.No. 223(E) dated 18.3.2003 G.S.R.No. 225(E) dated 18.3.2003 G.S.R.No. 558(E) dated 22.7.2003 G.S.R.No.835(E) dated 23.10.2003 G.S.R.No.899(E) dated 22.11.2003 G.S.R.No. 12(E) dated 7.1.2004 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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