Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India )(Second Amendment) Regulations,2005 https://www.taxtmi.com/notifications?id=3817 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. en-us Thu, 17 Mar 2005 00:00:00 +0530 Sat, 04 Oct 2008 17:00:00 +0530 TaxTMI RSS Generator Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India )(Second Amendment) Regulations,2005 https://www.taxtmi.com/notifications?id=3817 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. Notifications FEMA Thu, 17 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/notifications?id=3817