Foreign Exchange Management (Transfer Or Issue Of Security By A Person Resident Outside India) (Seventh Amendment) Regulations, 2012 - Amendment In Regulation 5 And Schedule 1 https://www.taxtmi.com/notifications?id=25373 Amendment adds a provision allowing citizens of Pakistan and entities incorporated in Pakistan to purchase shares and convertible debentures of Indian companies under the Foreign Direct Investment scheme with prior approval of the Foreign Investment Promotion Board, subject to Schedule 1 terms and conditions; the recipient Indian company must not engage in defence, space, atomic energy or other sectors prohibited for foreign investment, and Schedule 1 is revised to state that persons referred in Regulation 5(1) may acquire securities only to the extent and on the terms set out in the Schedule. en-us Mon, 22 Oct 2012 00:00:00 +0530 Tue, 22 Jan 2013 10:49:00 +0530 TaxTMI RSS Generator Foreign Exchange Management (Transfer Or Issue Of Security By A Person Resident Outside India) (Seventh Amendment) Regulations, 2012 - Amendment In Regulation 5 And Schedule 1 https://www.taxtmi.com/notifications?id=25373 Amendment adds a provision allowing citizens of Pakistan and entities incorporated in Pakistan to purchase shares and convertible debentures of Indian companies under the Foreign Direct Investment scheme with prior approval of the Foreign Investment Promotion Board, subject to Schedule 1 terms and conditions; the recipient Indian company must not engage in defence, space, atomic energy or other sectors prohibited for foreign investment, and Schedule 1 is revised to state that persons referred in Regulation 5(1) may acquire securities only to the extent and on the terms set out in the Schedule. Notifications FEMA Mon, 22 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/notifications?id=25373