Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2006

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....149/2006-RB Dated : June 9, 2006 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 Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No.FEMA.20....

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....of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). (i) in regulation 5, in sub regulation (2), after the proviso, the following proviso shall be inserted, namely, 'Provided further that Foreign Institutional Investors shall not invest in the paid up equity capital of Asset Reconstruction Companies'. (i) in schedule 1, in Annexure A, in Part A after item 11, the ....

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.... of 70:30, and (ii) if the FII desires to invest upto 100% in dated Government Securities including Treasury Bills, non-convertible debentures / bonds issued by an Indian company, it shall form a 100% debt fund and get such fund registered with SEBI. (iii) the total holding by a single FII in each tranche of scheme of Security Receipts shall not exceed 10% of the issue and the total holdings of....