FEMA (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) (FOURTH AMENDMENT) REGULATIONS, 2012 – AMENDMENT IN REGULATION 1

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....on Resident outside India) Regulations, 2000 (Notification No. FEMA20/2000-RB, dated 3rd May, 2000) namely:- Short Title & Commencement 1. (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Fourth Amendment) Regulations, 2012. (ii) They shall be deemed to have come into force from the 27th day of February, 2009. Amendment of Regulation 1 2. In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, (Notification No. FEMA.20/2000-RB, dated 3rd May, 2000), (i) in Schedule 1, the sub-paragraph (2) of the paragraph 2 shall be substituted with the following namely: "1[(2) A company which ....

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....erms and conditions of such approval. 2[Explanation.-For the purposes of sub-paragraphs (2) and (3) above, in terms of the provisions of the Micro, Small and Medium Enterprises Development Act, (i) in the case of the enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the industries (Development and regulation) Act, 1951, a micro enterprise means where the investment in plant and machinery does not exceed twenty five lakh rupees; a small enterprise means where the investment in plant and machinery is more than twenty five lakh rupees but does not exceed five crore rupees; (ii) in the case of the enterprises engaged in providing or rendering services, a micro enterprise....