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          <h1>Partnership firms can apply to Reserve Bank for overseas investment permission under specified conditions</h1> A firm registered under the Indian Partnership Act, 1932 may apply to the Reserve Bank for permission to invest abroad according to specified extent and manner outlined in Part I. The Reserve Bank may grant permission after considering factors specified in sub-regulation (3) of Regulation 9, subject to necessary terms and conditions. This provision has been superseded by Notification No. 120/2004 dated July 7, 2004.

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