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TMI BlogForeign Exchange Management (Deposit) (Third Amendment) Regulations, 2012 - Amendment In Regulations 2 & 5X X X X Extracts X X X X X X X X Extracts X X X X ..... gulations, 2012 - Amendment In Regulations 2 & 5 NOTIFICATION NO. FEMA 243/2012-RB Dated 19-10-2012 GSR 798(E),- In exercise of the powers conferred by clause (f) of sub-section (3) of section 6, sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Deposit) Regulations ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... criteria at the relevant time; (i) resident of a country, that is compliant with the Financial Action Task Force (FATF) standards and is a signatory to the IOSCO's Multilateral Memorandum of Understanding (MMoU); and (ii) satisfied the KYC requirements stipulated by SEBI. Provided that such a person is not registered with SEBI as a Foreign Institutional Investor (FII) or Foreign Venture Cap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erson is not resident in India; Provided further that such person is not registered with SEBI as an FII or Sub-Account of an FII or FVCI. Explanation.--For the purposes of this clause : 1. "bilateral MoU with SEBI" shall mean a bilateral MoU between SEBI and the overseas regulator that, inter alia, provides for information sharing arrangements. 2. Member of FATF shall not mean an ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... securities for QFIs. (b) The funds in this account shall be utilized for purchase of eligible securities for QFIs or for remittance (net of taxes) outside India. (c) The Qualified Depository Participants (as per the extant SEBI regulations) will operate such non-interest bearing. Rupee Accounts on behalf of the QFIs and at the instructions of the QFIs." [No. FEMA, 243/2012-RB] RUDRA NA ..... X X X X Extracts X X X X X X X X Extracts X X X X
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