FEMA (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2012 - Amendment in regulations 2 and 22

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... 607(E),-In exercise of the powers conferred by clause (a) 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 Any Foreign Security) Regulations, 2004 (Notification No. FEMA, 120/RB-2004, dated July 7, 2004), namely :- Shor....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ause (j), the following clause shall be inserted, namely:- "(ja) 'Indian Depository Receipts' have the same meaning as assigned to it in the Companies (Issue of Indian Depository Receipts) Rules, 2004" (b) in Regulation 22, after sub-regulation (6), the following sub-regulation (7) shall be inserted, namely :- "(7) (i) A Domestic Depository may acquire, hold and transfer equity shares of eligib....