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Foreign Exchange Management Act, 1999 – Insurance

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Full Text of the Document

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....n of authorised dealers is invited to the Notification No. FEMA.12/2000-RB dated 3rd May 2000 whereby a person resident in India is prohibited from taking any general or life insurance policy issued by an insurer outside India. 2. It has since been decided, in consultation with Government of India, to exempt units located in Special Economic Zones (SEZs) from the purview of the above Notification....

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