Prior permission for proprietary concerns to accept foreign company shares in lieu of fees under value and shareholding limits.

A proprietary concern in India may apply through the authorised dealer in Part I of the Form ODI for the Reserve Bank's prior permission to accept shares of a company outside India in lieu of professional fees, subject to the conditions that the value of shares from any one company does not exceed fifty per cent of the fees receivable from that company and that the resulting shareholding in any one foreign company does not exceed ten per cent of its paid-up capital.

---

---

---