NTF. NO. FEMA 35/2001-RB DT. 16/02/2001
- Document type
- Circular
- Dated
- Category
- Notifications Under FEMA
(Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000
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) and in partial modification of its Ntf. No. FEMA 20/2000-RB , dated 3rd May 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, as amended from time to time, namely:-
- 1.
- (1) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2001.
(2) They shall come into force with immediate effect.
- 2.
- In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, in Regulation 5,
- after Sub-regulation (2), the following proviso shall be added, namely:
"Provided that the FII shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector". - after Sub-regulation (3), the following proviso shall be added, namely:
"Provided that the NRI/OCB shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector". - after Sub-regulation (5), the following proviso shall be added, namely:
"Provided that the Foreign Venture Capital Investor shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector".
Sd/-
(J. Capoor)
Deputy Governor