Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Twelfth Amendment) Regulations, 2013 - 285/2013-RB - Foreign Exchange Management
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Definition of control expanded to include director appointment, management and voting agreements, broadening FDI regulatory reach. The Regulations amend Regulation 14 to broaden the definition of control to include rights to appoint a majority of directors, control management or policy decisions, and influence via shareholding, management rights, shareholders' agreements or voting agreements; they delete the prior narrower clauses. The notification substitutes Annex B with a revised sectoral policy listing FDI ceilings, entry routes and sector-specific conditions, and provides that the amendments are deemed effective from the stated commencement date with a non-adverse retrospective clarification.
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Definition of control expanded to include director appointment, management and voting agreements, broadening FDI regulatory reach.
The Regulations amend Regulation 14 to broaden the definition of control to include rights to appoint a majority of directors, control management or policy decisions, and influence via shareholding, management rights, shareholders' agreements or voting agreements; they delete the prior narrower clauses. The notification substitutes Annex B with a revised sectoral policy listing FDI ceilings, entry routes and sector-specific conditions, and provides that the amendments are deemed effective from the stated commencement date with a non-adverse retrospective clarification.
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