Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Fourth Amendment) Regulations, 2012 - Amendment in Regulations 6 & 15 and Part I of Form ODI

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....ge 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), as amended from time to time (hereinafter called the Principal Regulations or the Notification), namely :- 1. Short Title & Commencement (i)  These regulations shall be called the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Fourth Amendment) Regulations, 2012. (ii)  Each amendment shall be deemed to have come into force from the dates specified in these regulations. Amendment to Regulation 6 2. In regulation 6, in sub-regulation (2), i....

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....be prescribed by the Reserve Bank from time to time. The APR, so required to be submitted, has to be based on the audited annual accounts of the JV/WOS for the preceding year, unless specifically exempted by the Reserve Bank." (b)  In regulation 15, after the sub-regulation (iii), the following shall be added and the same shall be deemed to have been added with effect from March 15, 2011: "(iv) Indian companies, which have made overseas direct investments under the provisions of this Notification, shall submit an 'Annual Return on Foreign Liabilities and Assets' in the format and by a specified dates prescribed by the Reserve Bank from time to time, to the Director, Balance of Payment Statistics Division, Department of Statistics....

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....ual Performance Report, as required in terms of regulation 15(iii) of the Notification No. FEMA 120/RB - 2004, dated July 7, 2004, as amended from time to time, in respect of all the existing JV/WOS of the Indian party has been submitted. I/We hereby certify that the information furnished above are true and correct. Place: __________________ ____________________________ Date __________________ (Signature of authorised official) Name __________________ Stamp/Seal Designation __________________   List of enclosures:   1. 4. 2. 5. 3. 6. Section F (Revised): Certificate by the Statutory Auditors of the Indian Party It is certified that the terms and conditions contained in Notif....

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....tory authorities concerned in India and abroad*. Further, certified that, wherever applicable, the Annual Performance Report, as required in terms of regulation 15(iii) of the Notification ibid, in respect of all the existing JV/WOS of the Indian party has been submitted. Note: *Applicable only in cases where the investment is in the financial services sector (e.g. insurance, mutual fund, asset management, etc.). # Applicable where investment is funded through ECB/FCCB balances. (Signature of the Statutory Auditors of the Indian Party) Name of the firm, Stamp and Registration number [No. FEMA 249/RB-2012] RUDRA NARAYAN KAR, Chief General Manager Foot Note: (i) Certified that no person shall be adversely affected by t....