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Foreign Exchange Management (Establishment in India of branch or office or other place of business) (Second Amendment) Regulations, 2003
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....OF INDIA EXCHANGE CONTROL DEPARTMENT CENTRAL OFFICE MUMBAI 3rd October 2003 Notification No. FEMA 102/2003-RB Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 29.10.2003 - G.S.R. No. 847(E) In exercise of the powers conferred by sub-section (6) of Section 6 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in part....
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....lause shall be inserted after (g) namely: - (h) 'Stand alone basis' means such branch offices would be isolated and restricted to the Special Economic Zone alone and no business activity/ transaction will be allowed outside the Special Economic Zones in India which includes branches/subsidiaries of its parent office in India. The existing clause (h) may be renumbered as (i). 3. In Regulation 3, ....