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CORRIGENDUM - Notification No. FEMA. 362/2016-RB dated February 15, 2016

FEMA - F. No. 1/3/EM/2016 - G.S.R. 1089(E) - Dated:- 25-11-2016 - RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) CORRIGENDUM Mumbai, 25th November, 2016 G.S.R. 1089(E).-In the Notification of Reserve Bank of India, Foreign Excha .....

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In paragraph 2(C) (iv), S. No. 9.3 and 9.3.1 shall be substituted as under: 9.3 Air Transport Services (1) (a) Scheduled Air Transport Service/Domestic Scheduled Passenger Airline (b) Regional Air Transport Service 49% (100% for NRIs) Automatic (2) .....

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Air Transport Services, helicopter and seaplane services. (b) Foreign airlines are allowed to participate in the equity of companies operating Cargo airlines, helicopter and seaplane services, as per the limits and entry routes mentioned above. (c) .....

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s: (i) It would be made under the Government approval route. (ii) The 49% limit will subsume FDI and FII/FPI investment. (iii) The investments so made would need to comply with the relevant regulations of SEBI, such as the Issue of Capital and Disclo .....

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d and has its principal place of business within India; b) the Chairman and at least two-thirds of the Directors of which are citizens of India; and c) the substantial ownership and effective control of which is vested in Indian nationals. (v) All fo .....

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