TMI BlogForeign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... t 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) (Second Amendment) Regulations, 2017. (ii) They shall come into force from the date of their publication in the Official Gazette. 2. Amendment of the Regulations A. 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 Regulation 5 , for the existing sub-regulation (9), the following shall be substituted, namely: 5 (9) A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Note: Investment by way of 'profit share' will fall under the category of reinvestment of earnings 3. Eligibility of a LLP FDI in LLPs is permitted, subject to the following conditions: i. FDI is permitted under the automatic route in LLPs operating in sectors / activities where 100% FDI is allowed through the automatic route and there are no FDI linked performance conditions. For ascertaining such sectors, reference shall be made to Annex B to Schedule 1 of these Regulations ii. An Indian company or an LLP, having foreign investment, will be permitted to make downstream investment in another company or LLP engaged in sectors in which 100% FDI is allowed under the automatic route and there are no FDI linked per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fair price of the capital contribution / profit share of an LLP. 5. Mode of payment Payment by an investor towards capital contribution in LLPs shall be made: (i) by way of inward remittance through banking channels; or (ii) by debit to NRE/FCNR(B) account of the person concerned, maintained with an AD Category-I bank in accordance with Foreign Exchange Management (Deposit) Regulations, 2016, as amended from time to time. 6. Reporting (i) Reporting of foreign investment in LLPs and disinvestment/transfer of capital contribution or profit shares between a resident and a non-resident may be made in a manner as prescribed by Reserve Bank of India from time to time. (ii) All LLPs which have received Foreign Direc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o. 737(E) dated 29.11.2007 G.S.R.No. 575(E) dated 05.08.2008 G.S.R.No. 896(E) dated 30.12.2008 G.S.R.No. 851(E) dated 01.12.2009 G.S.R.No. 341 (E) dated 21.04.2010 G.S.R.No. 821 (E) dated 10.11.2012 G.S.R.No. 606(E) dated 03.08.2012 G.S.R.No. 795(E) dated 30.10.2012 G.S.R.No. 796(E) dated 30.10.2012 G.S.R. No. 797(E) dated 30.10.2012 G.S.R.No. 945 (E) dated 31.12.2012 G.S.R. No. 946(E) dated 31.12.2012 G.S.R. No. 38(E) dated 22.01.2013 G.S.R.No. 515(E) dated 30.07.2013 G.S.R.No. 532(E) dated 05.08.2013 G.S.R. No. 341(E) dated 28.05.2013 G.S.R.No. 344(E) dated 29.05.2013 G.S.R. No. 195(E) dated 01.04.2013 G.S.R.No. 393(E) dated 21.06.2013 G.S.R.No. 591(E) dated 04.09.2013 G.S.R.No. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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