Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Fifteenth Amendment) Regulations, 2014 - 323/2014-RB - Foreign Exchange Management

FEMA amendment: deletion of the explanation to Regulation 2 clause viii b alters the transfer and issue of securities framework.

Reserve Bank of India issues the Fifteenth Amendment to the FEMA Regulations (Transfer or Issue of Security by a Person Resident Outside India), giving the amendment a short title and making it effective on publication in the Official Gazette. The amendment's operative change is the deletion of the existing explanation to clause viii b of Regulation 2 of the principal Regulations, thereby removing that specific explanatory provision from the regulatory text governing transfers or issues of securities by persons resident outside India.