FEM (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) (THIRTEENTH AMENDMENT) REGULATIONS, 2016 – AMENDMENT IN SCHEDULE 1, ANNEX B
NOTIFICATION NO.FEMA.375/2016-RB/GSR 879(E), DATED 9-9-2016
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 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) namely:—
Short Title & Commencement
1. (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Thirteenth Amendment) Regulations, 2016.
(ii) They shall come into force from the date of their publication in the Official Gazette.
Amendment to Schedule 1
2. In 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 Schedule 1, in Annex B, Paragraph F.8 shall be substituted by the following, namely:—
|F.8||Other Financial Services|
|Financial Services activities regulated by financial sector regulators, viz., RBI, SEBI, IRDA, PFRDA, NHB or any other financial sector regulator as may be notified by the Government of India.||100%||Automatic|