TMI BlogForeign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Sixteenth Amendment) Regulations, 2014.X X X X Extracts X X X X X X X X Extracts X X X X ..... ident Outside India) Regulations, 2000 ( Notification No. FEMA. 20/2000-RB, dated 3rd May 2000 ), namely: 1. Short title and Commencement (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Sixteenth Amendment) Regulations, 2014. (ii) They shall be deemed to have come into force from December 3, 2014. 2. Amendment of Schedule 1 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 ), in the existing Annex B, for the existing entry 11, 11.1 and 11.2, the following shall be substituted, namely: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... infrastructure i.e. roads, water supply, street lighting, drainage and sewerage. (ii) The Government may, in view of facts and circumstances of a case, permit repatriation of FDI or transfer of stake by one non-resident investor to another non-resident investor, before the completion of project. These proposals will be considered by FIPB on case to case basis inter alia with specific reference to Note (i). (D) The project shall conform to the norms and standards, including land use requirements and provision of community amenities and common facilities, as laid down in the applicable building control regulations, bye-laws, rules, and other regulations of the State Government/Municipal/Local Body concerned. (E) The India ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reational facilities, city and regional level infrastructure, townships. (ii) The conditions at (A) to (C) above, will not apply to Hotels Tourist resorts; Hospitals; Special Economic Zones (SEZs); Educational Institutions, Old Age Homes and Investment by NRls. (iii) The conditions at (A) and (B) above, will also not apply to investee/joint venture companies which commit at least 30 per cent of the total project cost for low cost affordable housing. (iv) An Indian company, which is the recipient of FDI, shall procure a certificate from an architect empanelled by any Authority, authorized to sanction/building plan to the effect that the minimum floor area requirement has been fulfilled. (v) 'Floor area' ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
