Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Second Amendment) Regulations, 2005

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....BAI-400 001 Notification No. FEMA 135/2005-RBI dated : May 17, 2005 In exercise of the powers conferred by clause (a) of Sub-section (3) of Section 6 and Sub-section (2) of Section 47 of the Foreign Exchange Management Act 1999, (42 of 1999) and in partial modification of its Notification No.FEMA120/RB-2004 dated 7th July 2004, the Reserve Bank of India makes the following amendments in the For....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... sub clause (a), the following shall be substituted : '(a) remittance by market purchases, namely in freely convertible currencies; in case of Bhutan, investment made in freely convertible currencies or equivalent Indian Rupees; in case of Nepal investment made only in Indian Rupees.' ii. In Regulation 15, after clause (ii) the following proviso may be added. 'Provided that in the case of inves....