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of <h1>Partnership firms can invest abroad without prior approval when providing professional services under Regulation 17B</h1> Regulation 17B under the Foreign Exchange Management Act allows registered partnership firms to invest abroad without prior Reserve Bank approval when providing specific professional services. The eligible services include chartered accountancy, legal practice and related services, information technology and entertainment software services, and medical and healthcare services. This regulation was part of the 2000 Foreign Exchange Management regulations governing transfer or issue of foreign securities, though it has since been superseded by subsequent notifications.
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