Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2002

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..... 2002 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 19.08.2002 - G.S.R. No. 576(E) Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2002 In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in partial modification of Notification No.FEMA 1 .....

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..... (iv) and (v) shall be renumbered as (iv), (v) and (vi) respectively. (b) In Regulation 4. (i) for sub-regulation (1), the following sub-regulation shall be substituted, namely: "(1) A person specified in sub-regulations (2) and (3) may make remittance of assets through an authorised dealer, to the extent specified in those sub regulations." (ii) in sub-regulation (2), the words," Rs.20 lak .....

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..... ub-regulation (3), the following sub-regulation shall be substituted, namely: "(4) An Authorised dealer in India may, without approval from Reserve Bank, effect remittance of assets made by a person eligible under sub-regulation (2) or sub-regulation (3) as the case may be." (c) In Regulation 6. the sub-regulation (l)(i) shall be substituted by: "(i) Remittance exceeding US$ 1,00,000 (US D .....

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