Foreign Exchange Management (Foreign Currency Account by a Person Resident in India) (Amendment) Regulations, 2007

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.... Mumbai, the 7th June, 2007 G.S.R. 455(E).- In exercise of the powers conferred by clause (b) of Section 9 and clause (e) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) the Reserve Bank of India makes the following amendments to Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations 2000 (Notification....

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....per cent of the foreign exchange earnings as specified in sub-paragraph (1A)." This shall be deemed to have come into force with effect from 30th November, 2006. (2) in regulation 7, in sub-regulation 4A the proviso, in clause (b) (a) in sub-clause (i) for the figure "2" the figure "10" shall be substituted. (b) in sub-clause (ii) for the figure "1" the figure "....

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.... be deemed to have come into force with effect from 4th December, 2006. Sd/- Salim Gangadharan Chief General Manager F. No. 1/23/EM/2000-Vol.IV Footnote:- (i) It is clarified that no person will be adversely affected as a result of retrospective effect being given to these Regulations. (ii) The Principal Regulations were published in the Official Gazette vide No. G....