TMI BlogForeign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Amendment) Regulations, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... TED 8-5-2013 GSR 385(E) - In exercise of the powers conferred by clause (b) of section 9 and clause (e) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000 ( Notification No. FEMA 10/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Indian party is eligible for overseas direct investments in terms of Regulation 6 or Regulation 7 , as the case may be, of Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 (notified in Notification No. FEMA 120/RB-2004 dated July 7, 2004 ) as amended from time to time. (ii) The host country regulations stipulate that the investment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and the extant FEMA regulations/provisions as applicable. (vii) The FCA so opened shall be closed immediately or within 30 days from the date of disinvestment from JV/WOS or cessation thereof. Explanation: For the purpose of this regulation, the expression 'Indian party' shall have the same meaning as assigned to it in Foreign Exchange Management (Transfer or Issue of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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