Foreign Exchange Management (Transfer or Issue of Security by a person Resident outside India) (First Amendment) Regulations, 2004

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....nge Control Department Central Office Mumbai-400 001 Notification No.FEMA. 108/2004-RB Dated January 1, 2004 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 07.01.2004 - G.S.R. No. 12(E) In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 199....

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....s 1 and 2, the following sub- paragraphs shall be substituted, namely: '(1) A registered Foreign Institutional Investor (FII) may purchase the shares and convertible debentures of an Indian company under Portfolio Investment Scheme. (2) The purchase of shares /convertible debentures under sub-paragraph (1) shall be made through registered broker on recognized stock exchange in India. ii. For p....

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.... The funds from Foreign Currency Account of the registered FII may be transferred to Special Non-Resident Rupee account of the same FII and vice-versa.' iii. In paragraph 4, (a) for sub-paragraph (1), the following sub-paragraph shall be substituted, namely: 'A domestic asset management company or portfolio manager, who is registered with SEBI as a foreign institutional investor for managing ....