Foreign Exchange Management (Deposit) (Third Amendment) Regulations, 2012 - Amendment In Regulations 2 & 5

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....osit) (Third Amendment) Regulations, 2012 - Amendment In Regulations 2 & 5 NOTIFICATION NO. FEMA 243/2012-RB Dated 19-10-2012 GSR 798(E),- In exercise of the powers conferred by clause (f) of sub-section (3) of section 6, 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 in the Foreign Exchange ....

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....y of August, 2011 to 15th day of July, 2012, a person who satisfied the following criteria at the relevant time; (i)      resident of a country, that is compliant with the Financial Action Task Force (FATF) standards and is a signatory to the IOSCO's Multilateral Memorandum of Understanding (MMoU); and (ii)     satisfied the KYC requirements s....

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....ciencies to which counter measures apply or that have not made sufficient progress in addressing the deficiencies or have not committed to an action plan developed with the FATF to address the deficiencies; Provided that such person is not resident in India; Provided further that such person is not registered with SEBI as an FII or Sub-Account of an FII or FVCI. Explanation.-For the purpo....

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....Reserve Bank, from time to time, subject to the following conditions: (a)  The account shall be funded by inward remittance through normal banking channel and by credit of the sale/redemption/buyback proceeds (net of taxes) and on account of interest payment/dividend on the eligible securities for QFIs.  (b)  The funds in this account shall be utilized for purchase of eligible....