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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Amends Foreign Exchange Management Regulations, Clarifies Definition of Entities Incorporated Outside India Under Regulation 5.</h1> The Reserve Bank of India issued the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Third Amendment) Regulations, 2003, amending the 2000 regulations. Effective from their publication date, these amendments redefine an 'entity incorporated outside India' as an entity registered under the host country's laws. Additionally, Regulation 5, sub-regulation (1) is revised to specify 'an entity incorporated outside India' instead of 'an entity outside India, whether incorporated or not.' These changes refine the regulatory framework governing foreign entities' participation in Indian securities. The principal regulations remain effective with these amendments.
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