Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) ( Fourth Amendment) Regulations, 2005

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....erve Bank of India Foreign Exchange Department Central Office NOTIFICATION No. FEMA. 137/2005- RB Mumbai, the 22nd July, 2005 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, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Managem....

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....n to the Reserve Bank for its approval. (ii) The Reserve Bank may grant such approval on being satisfied of the following conditions: a. The donee is eligible to hold such a security under Schedules 1, 4 and 5 of these Regulations. b. The gift does not exceed 5% of the paid up capital of the Indian company/each series of debentures/each mutual fund scheme. c. Th....

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.... d. In case of Government dated securities and treasury bills and bonds, a certificate issued by a Chartered Accountant on the market value of such securities. e. In case of units of domestic mutual funds and units of Money Market Mutual Funds, a certificate from the issuer on the Net Asset Value of such security. f. In case of shares and debentures, a certificate from a ....

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....3, 2000 in Part II, Section 3, sub-section (i) and subsequently amended as under: G.S.R.No. 158(E) dated 02.03.2001 G.S.R.No. 175(E) dated 13.03.2001 G.S.R.No. 182(E) dated 14.03.2001 G.S.R.No. 4(E) dated 02.01.2002 G.S.R.No. 574(E) dated 19.08.2002 G.S.R.No. 223(E) dated 18.03.2003 G.S.R.No. 225(E) dated 18.03.2003 G.S.R.No. ....