Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Tenth Amendment) Regulations, 2016

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..... October, 2016 Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Tenth Amendment) Regulations, 2016 G.S.R. 1015 (E). -In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank of India hereby makes the following amendments .....

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..... substituted by the following: F.1 Asset Reconstruction Companies F.1.1 Asset Reconstruction Company 100% Automatic F.1.1.2 Other Conditions (i) Persons resident outside India can invest in the capital of Asset Reconstruction Companies (ARCs), up to 100 .....

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..... p as applicable. (v) All investments would be subject to provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, as amended from time to time. B. Amendment of the Schedule 5 (i) In Paragraph 1, for the existing clause (e), the following shall be substituted, namely: (e) Security Receipts (SRs) issued by .....

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