Foreign exchange regulation: amendment confirms short title and commencement rule for transfer or issue of foreign securities under FEMA. Regulation 1 establishes the short title and commencement mechanism for regulations governing transfer or issue of foreign securities under the Foreign Exchange Management Act; the Reserve Bank issued an amendment titled the Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004, which states the regulations take effect upon publication in the Official Gazette and notes that the original Regulation 1 has been superseded by a subsequent notification.