Foreign Exchange Management (Regularization of assets held abroad by a person resident in India) Regulations, 2015

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....ment (Regularization of assets held abroad by a person resident in India) Regulations, 2015. G.S.R. 738 (E) - In exercise of the powers conferred by section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank makes the following regulations relating to regularization of assets held abroad by a person resident in India, namely:- 1. Short title and commencement:- i. Th....

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....ent in India shall continue to hold an asset located outside India for which a declaration has been made under section 59 of the Black Money Act. 4. Regularization of assets held abroad by persons resident in India - No proceedings shall lie under the provisions of the Act, against a person resident in India who has made a declaration under section 59 of the Black Money Act, in respect of any u....