Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2001 - 046/2001 - Foreign Exchange Management
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Portfolio Investment Scheme restrictions: NRIs may buy shares under PIS but transactions in print media are prohibited. Regulation 5(3) is replaced to allow NRIs to buy shares or convertible debentures on a stock exchange under the Portfolio Investment Scheme subject to Schedule 3, but bar purchases in the Print Media sector. NRIs and OCBs may buy securities on a non-repatriation basis outside PIS under Schedule 4, also excluding Print Media. Schedule 3 is amended to remove OCB references and to require the link office of the authorised dealer's designated branch to furnish daily reports of PIS transactions to the Reserve Bank in the prescribed format.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Portfolio Investment Scheme restrictions: NRIs may buy shares under PIS but transactions in print media are prohibited.
Regulation 5(3) is replaced to allow NRIs to buy shares or convertible debentures on a stock exchange under the Portfolio Investment Scheme subject to Schedule 3, but bar purchases in the Print Media sector. NRIs and OCBs may buy securities on a non-repatriation basis outside PIS under Schedule 4, also excluding Print Media. Schedule 3 is amended to remove OCB references and to require the link office of the authorised dealer's designated branch to furnish daily reports of PIS transactions to the Reserve Bank in the prescribed format.
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