Foreign Exchange Management (Transfer Or Issue Of Security By A Person Resident Outside India) (Seventh Amendment) Regulations, 2012 - Amendment In Regulation 5 And Schedule 1

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.... Mumbai, the 25^th September, 2012 Foreign Exchange Management (Transfer Or Issue Of Security By A Person Resident Outside India) (Seventh Amendment) Regulations, 2012 - Amendment In Regulation 5 And Schedule 1 G.S.R. 946(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....

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....i), the following new clause (iii) shall be added, namely:- "(iii) Further, notwithstanding anything contained in clause (i) of the sub-regulation (1) above, a person who is a citizen of Pakistan or an entity incorporated in Pakistan may, with the prior approval of the Foreign Investment Promotion Board of the Government of India, purchase shares and convertible debentures of an Indian company ....

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....ation (1) of Regulation 5, may purchase shares or convertible debentures issued by an Indian company up to the extent and subject to the terms and conditions set out in this Schedule."   [No. FEMA 244/2012-RB] RUDRA NARAYAN KAR, Chief General MAnager ____________ Notes:- 1. It is certified that no person will be adversely affected as a result of the retrospective effect bein....

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.....2004 GSR No. 278(E), dated 23.04.2004 GSR No. 454(E), dated 16.07.2004 GSR No. 625(E), Dated 21.09.2004 GSR No. 799(E), dated 08.12.2004 GSR No. 201(E), dated 01.04.2005 GSR No. 202(E), dated 01.04.2005 GSR No. 504(E), dated 25.07.2005 GSR No. 505(E), dated 25.07.2005 GSR No. 513(E), dated 29.07.2005 GSR No. 738(E), dated 22.12.2005 GSR No. 29(E), dated 19.01.2006....