Non-debt instrument regulation supersedes prior foreign exchange security and immovable property frameworks while preserving earlier acts and omissions.

The Foreign Exchange Management (Non-debt Instruments) Rules, 2019 regulate non-debt instruments under the Foreign Exchange Management Act, 1999. They take effect upon publication in the Official Gazette, unless otherwise expressly provided. The framework supersedes regulations governing transfer or issue of security by persons resident outside India and acquisition or transfer of immovable property in India, while preserving acts done and omissions occurring before supersession.

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