Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fifth Amendment) Regulations, 2016 https://www.taxtmi.com/notifications?id=118945 Amendment revises the Schedule to permit foreign investment in specified insurance entities up to a 49% foreign equity cap on the automatic route. Covered entities include Insurance Companies, Brokers, Third Party Administrators, Surveyors and Loss Assessors, and other IRDAI-appointed intermediaries. The investment is subject to IRDAI approval/verification, compliance with the Insurance Act, licence requirements, Indian ownership and control criteria, FEMA and SEBI portfolio investment provisions, RBI pricing guidelines for any increase, and applicability of certain banking-sector provisions to bank-promoted insurance companies. en-us Wed, 30 Mar 2016 00:00:00 +0530 Thu, 31 Mar 2016 10:23:00 +0530 TaxTMI RSS Generator Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fifth Amendment) Regulations, 2016 https://www.taxtmi.com/notifications?id=118945 Amendment revises the Schedule to permit foreign investment in specified insurance entities up to a 49% foreign equity cap on the automatic route. Covered entities include Insurance Companies, Brokers, Third Party Administrators, Surveyors and Loss Assessors, and other IRDAI-appointed intermediaries. The investment is subject to IRDAI approval/verification, compliance with the Insurance Act, licence requirements, Indian ownership and control criteria, FEMA and SEBI portfolio investment provisions, RBI pricing guidelines for any increase, and applicability of certain banking-sector provisions to bank-promoted insurance companies. Notifications FEMA Wed, 30 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/notifications?id=118945