NTF. NO. FEMA 187/2009-RB, DT. 03/02/2009
- Document type
- Circular
- Dated
- Category
- Notifications Under FEMA
FEM (Guarantees) (Amendment) Regulations, 2008
FEM (Guarantees) (Amendment) Regulations, 2008
2. Short title and commencement
(a) These Regulations may be called the Foreign Exchange Management (Guarantees) (Amendment) Regulations, 2009.
(b) They shall be deemed to have come into force from the dates specified in these regulations.
3. Amendment of regulation 5
In the Foreign Exchange Management (Guarantees) Regulations, 2000 (Notification No. FEMA 8/2000-RB) dated May 3, 2000, in regulation 5, after clause (c), the following new clause shall be inserted and shall be deemed to have been inserted with effect from the 11th July, 2008, namely,-
(d) a bank which is an authorised dealer may, subject to the directions issued by the Reserve Bank in this behalf, permit a person resident in India or on behalf such person to issue guarantee in favour of an overseas lender or security trustee to secure an external commercial borrowing availed under the provisions of the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange ) Regulations, 2000 (Notification No FEMA 3/2000-RB, dated 3-5-2000)."
(Salim Gangadharan)
Chief General Managerin-Charge
i) Certified that no person shall be adversely affected by the retrospective effect given to such Regulations.
ii) The Principal Regulations were published in the Official Gazette vide G.S.R No. 391 (E) dated May 5, 2000 in Part II, Section 3, Sub-Section (i) and subsequently amended vide:
i) G.S.R No 575 (E) dt 19-8-2002
ii) G.S.R No 745 (E) dt 16-11-2004
iii) G.S.R No 61(E) dt 9-2-2005
iv) G.S.R No 196 (E) dt 14-3-2007