Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Fourth Amendment) Regulations, 2009

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..... ) (RESERVE BANK OF INDIA) (Foreign Exchange Department) NOTIFICATION Mumbai, the 28th July, 2009 No. FEMA 196/2009-RB Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Fourth Amendment) Regulations, 2009 G.S.R. 609(E). - In exercise of the powers conferred by clause (a) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of .....

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..... t in an entity outside India: Provided that the Indian party (i) has earned net profit during the preceding three financial years from the financial services activities; (ii) is registered with the regulatory authority in India for conducting the financial services activities; (iii) has obtained approval from the concerned regulatory authorities both in India and abroad, for venturing into suc .....

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