Foreign exchange threshold increase expands permissible foreign security exposure and raises the net worth cap for such transactions. Amends Regulation 6 of the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations to substitute a higher foreign investment ceiling in sub regulation (2)(i) and to increase the permissible exposure in sub regulation (3)(ii) measured as a percentage of net worth; issued under the Reserve Bank's powers under Section 6(3)(a) and Section 47 of the Foreign Exchange Management Act and operative from publication in the Official Gazette.
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Foreign exchange threshold increase expands permissible foreign security exposure and raises the net worth cap for such transactions.
Amends Regulation 6 of the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations to substitute a higher foreign investment ceiling in sub regulation (2)(i) and to increase the permissible exposure in sub regulation (3)(ii) measured as a percentage of net worth; issued under the Reserve Bank's powers under Section 6(3)(a) and Section 47 of the Foreign Exchange Management Act and operative from publication in the Official Gazette.
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