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of <h1>RBI Issues Regulations on Acquiring and Transferring Immovable Property Abroad Under FEMA Act 1999.</h1> The Reserve Bank of India issued the Foreign Exchange Management (Acquisition and Transfer of Immovable Property Outside India) Regulations, 2000, under the Foreign Exchange Management Act, 1999. This regulation, published in the Official Gazette on May 5, 2000, outlines the rules governing the acquisition and transfer of immovable property outside India. It was enacted using the powers granted by specific sections of the Foreign Exchange Management Act, aiming to regulate foreign exchange transactions related to property dealings abroad.
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