NTF. NO. FEMA 151/2007-RB, DT. 04/01/2007
- Document type
- Circular
- Dated
- Category
- Notifications Under FEMA
Foreign Exchange Management (Guarantees) Regulations, 2000-Amendment of Regulation
Foreign Exchange Management (Guarantees) Regulations, 2000-Amendment of Regulation
1. Short title and commencement :-
(i) These regulations may be called the Foreign Exchange Management (Guarantees) (Amendment) Regulations, 2007.
(ii) They shall come into force from November 17, 2006.@
2. Amendment of the Regulations :-
In the Foreign Exchange Management (Guarantees) Regulations, 2000 (Notification No.FEMA 8/2000-RB dated May 3, 2000), in regulation 4, in sub-regulation (3), after clause (iii), the following new clause shall be inserted, namely :-
(iv) in favour of an non-resident service provider, on behalf of a resident customer who is a service importer, for an amount upto USD 100,000 or its equivalent.
Salim Gangadharan
Chief General Manager-in-Charge
Foot Note : (i) @ Certified that no person would be adversely affected as a result of retrospective effect given to the notification.
(ii) The Principal Regulations were published in the Official Gazette vide No. G.S.R. 391(E) dated May 5, 2000 in Part II, Section 3, Sub-Section (i) and subsequently amended vide No. G.S.R. 575(E) dated August 19, 2002, No. G.S.R. 745(E) dated November 16, 2004 and No.G.S.R. 61(E) dated February 9, 2005.
Published in the Official Gazette of Government
of India-Extraordinary-Part-II, Section 3,
Sub-Section (i) dated 14.03.2007 - G.S.R.No.196(E)