Liberalisation of non-resident share transfers: prior approval removed where pricing, documentation and reporting conditions are met. The amendment permits transfers or issues of shares and convertible debentures by persons resident outside India without prior Government or Reserve Bank approval where the seller is not an erstwhile OCB and the Indian company is not engaged in financial services; such transfers must not fall under SEBI takeover rules and must comply with Reserve Bank pricing, documentation and reporting requirements, with financial services defined to include entities regulated by banking, insurance and other financial regulators.