FEM (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) (THIRTEENTH AMENDMENT) REGULATIONS, 2015 – AMENDMENT IN SCHEDULE 5

NOTIFICATION NO. GSR 983(E) [NO.FEMA.360/2015-RB (F.NO.10/07/ECB-2014)], DATED 17-12-2015

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, 2015.

(ii) They shall come into force from the date of its publication in the Official Gazette.

Amendment of Schedule 5

2. 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 Schedule 5,

(A)		In paragraph 1, after clause (l) and before the existing proviso, the following shall be inserted, namely:
		“(m) security receipts issued by securitization companies subject to conditions as specified by Reserve Bank of India and/or Securities and Exchange Board of India”
(B)		In paragraph 1B, in clause (iii), after sub-clause (k), the following shall be inserted, namely:
		“(l) security receipts issued by securitization companies subject to conditions as specified by Reserve Bank of India and/or Securities and Exchange Board of India.”
(C)		In paragraph 1C, in clause (l), after sub-clause (l), the following shall be inserted, namely:
		“(m) security receipts issued by securitization companies subject to conditions as specified by Reserve Bank of India and/or Securities and Exchange Board of India.”