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<h1>Amendment to 2019 Foreign Exchange Rules: Extends Investment Period, Clarifies Definitions, and Regulates Foreign Mergers & Acquisitions.</h1> The Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2022, effective from April 12, 2022, amends the 2019 rules under the Foreign Exchange Management Act, 1999. Key changes include extending the period for certain investments from five to ten years, clarifying definitions related to equity shares, convertible debentures, and preference shares, and specifying conditions for foreign investments. The amendments also address the issuance of stock options and share-based benefits to non-residents, conditions for mergers and acquisitions involving foreign investments, and regulations for the Life Insurance Corporation of India regarding foreign investments.