Foreign Exchange Management rules regulate transfers or issues of securities by persons resident outside India, with staggered commencement. Regulations titled Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017 regulate investment in India by persons resident outside India in respect of transfer or issuance of securities, are made under clause (b) of sub section (3) of section 6 and section 47 of the Foreign Exchange Management Act, 1999, and supersede earlier FEMA notifications; they commence on publication in the Official Gazette except two provisos to regulation 10 which take effect on a later notified date.