Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2016

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....y makes the following amendments 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) namely:- 1. Short Title & Commencement (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2016. (ii) They shall come into force from the date of their publication in the Official Gazette.   2. Amendment of the Regulation 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),....

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....gnated by an Authorised Dealer for the purpose; b. The paid-up value of shares of an Indian company purchased by any individual NRI should not exceed  five percent of the paid-up value of shares issued by the company concerned;  c. the paid-up value of convertible preference shares or convertible debentures of any series purchased by any individual NRI on repatriation basis should not exceed five percent of the paid-up value of convertible preference shares or convertible debentures of that series issued by the company concerned;  d. the paid-up value of warrants of any series purchased by any individual NRI on repatriation basis should not exceed five percent of the paid-up value of warrants of tha....

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....ndia. 3. Maintenance of accounts by an NRI for routing transactions for purchase and sale of shares / convertible debentures/ units, etc. An NRI may open a designated NRE account (opened and maintained by Authorised Dealer bank in terms of the Foreign Exchange Management (Deposit) Regulations, 2000) for the purpose of investment under this scheme with a designated branch of an Authorized Dealer bank referred to in paragraph 1, for routing the receipt and payment for transactions relating to sale and purchase of shares /convertible preference shares/ convertible debentures/ warrants/ units under this Schedule. The designated account will be called an NRE (PIS) Account. The designated branch shall ensure that sale proceeds of securit....

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....; d. Remittances outside India or transfer to NRE / FCNR (B) accounts of the account holder of the NRI or any other person eligible to maintain such account. 5. Saving The existing NRO (PIS) accounts may be re-designated as NRO account." D. Schedule 4 shall be substituted, namely   "Schedule-4 [See Regulation 5(3) (ii)] Acquisition of Securities or units by a Non-Resident Indian (NRI), on Non-Repatriation basis Permission to purchase 1. A Non-resident Indian (NRI), including a company, a trust and a partnership firm incorporated outside India and owned and controlled by non-resident Indians, may acquire and hold, on non-repatriation basis, equity shares, convertible preference shares, convertible d....