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<h1>RBI issues 2017 Foreign Exchange Management regulations under FEMA 1999 governing foreign securities transfer by Indian residents</h1> The Reserve Bank of India issued Foreign Exchange Management regulations in 2017 under the Foreign Exchange Management Act 1999, superseding earlier 2000 notifications. These regulations govern transfer or issue of foreign securities by Indian residents. The Third Amendment Regulations from 2005 were deemed effective from May 12, 2005, with retrospective application clarified not to adversely affect any person. The regulations exercise powers under sections 6 and 47 of the parent Act.