Foreign Exchange Management (Transfer or Issue of Security by A Person Resident Outside India) (Amendment) Regulations, 2008

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.... Economic Affairs) (EM Section) RESERVE BANK OF INDIA (Foreign Exchange Department) (Central Office) NOTIFICATION No FEMA 175/2008-RB Mumbai, the 22nd February, 2008 G.S.R. 575(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, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following ....

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.... "(6) A registered FII may, undertake short selling as well as lending and borrowing of securities subject to such conditions as may be stipulated by the Reserve Bank of India and the SEBI from time to time." [F. No. 1/23/EM/2000-Vol. IV] SALIM GANGADHARAN, chief General Manager Foot Note.—@(i) It is clarified that no person will be adversely affected as a result of retrospective effect b....