FEMA (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) (FOURTH AMENDMENT) REGULATIONS, 2012 – AMENDMENT IN REGULATION 1

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....e of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA20/2000-RB, dated 3rd May, 2000) namely:- Short Title & Commencement 1. (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Fourth Amendment) Regulations, 2012. (ii) They shall be deemed to have come into force from the 27th day of February, 2009. Amendment of Regulation 1 2. In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, (Notification No. FEMA.20/2000-RB, dated 3rd May, 2000),  (i)  in Schedule 1, the sub-paragraph (2) of the paragraph 2 shall be substituted with the f....

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.... India and shall be in compliance with the terms and conditions of such approval. ^2[Explanation.-For the purposes of sub-paragraphs (2) and (3) above, in terms of the provisions of the Micro, Small and Medium Enterprises Development Act, (i) in the case of the enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the industries (Development and regulation) Act, 1951, a micro enterprise means where the investment in plant and machinery does not exceed twenty five lakh rupees; a small enterprise means where the investment in plant and machinery is more than twenty five lakh rupees but does not exceed five crore rupees; (ii) in the case of the enterprises engaged in prov....

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.... 851(E) dated 01.12.2009 GSR No. 341(E) dated 21.04.2010 GSR No. 606(E) dated 03.08.2012 (ii) It is clarified that no person will be adversely affected as a result of the retrospective effect being given to such regulations. These provisions have been notified by the Department of Industrial Policy & Promotion, Ministry of Commerce & Industry, Government of India, vide Notification No. S.O. 563(E) dated February 27, 2009, published in the Official Gazette of Government of India on February 27, 2009.   _____________ Notes:- 1.  Corrected vide corrigendum notification dated 10.09.2013, before it was read as" "(2) A company which is reckoned as Micro and Small Enterprise (MSE) (earlier Small Scale Industrial Unit) i....