Transfer of assets on closure: foreign branch or liaison office may request authorised dealer to transfer assets to Indian entities. The amendment adds Regulation 8 permitting a person resident outside India, authorised under Regulation 5 to establish a Branch, Project or Liaison Office, on closure to apply to the authorised dealer for transfer of its assets to a joint venture, wholly owned subsidiary or any other entity in India; it also sets the short title and deems commencement from publication in the Official Gazette.