Foreign investment in air transport services regulated to permit automatic entry up to prescribed caps with government oversight. The amendment vests administration of the non debt instruments rules in the Reserve Bank, enabling it to issue directions and clarifications for implementation, and revises Schedule entries for Air Transport Services to specify distinct entry routes and sectoral caps for scheduled, regional, non scheduled, helicopter and seaplane services. It preserves Aircraft Rules conditions on registration, board composition and vesting of substantial ownership and effective control in Indian nationals, and attaches conditions for foreign airline investment including government approval, subsumption of other foreign investment, SEBI compliance, security clearances for foreign personnel, and Ministry of Civil Aviation clearance for imported technical equipment.
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Provisions expressly mentioned in the judgment/order text.
Foreign investment in air transport services regulated to permit automatic entry up to prescribed caps with government oversight.
The amendment vests administration of the non debt instruments rules in the Reserve Bank, enabling it to issue directions and clarifications for implementation, and revises Schedule entries for Air Transport Services to specify distinct entry routes and sectoral caps for scheduled, regional, non scheduled, helicopter and seaplane services. It preserves Aircraft Rules conditions on registration, board composition and vesting of substantial ownership and effective control in Indian nationals, and attaches conditions for foreign airline investment including government approval, subsumption of other foreign investment, SEBI compliance, security clearances for foreign personnel, and Ministry of Civil Aviation clearance for imported technical equipment.
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