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

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....ber, 2016 Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Tenth Amendment) Regulations, 2016 G.S.R. 1015 (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 Bank of India hereby makes the following amendments in the Foreign E....

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.... F.1 Asset Reconstruction Companies F.1.1 Asset Reconstruction Company 100% Automatic F.1.1.2 Other Conditions (i) Persons resident outside India can invest in the capital of Asset Reconstruction Companies (ARCs), up to 100% under the automatic route. (ii) Investment limit of a sponsor in the shareholding of an ARC will be governed by the provisions of Securitisation ....

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.... Interest Act, 2002, as amended from time to time. B. Amendment of the Schedule 5 (i) In Paragraph 1, for the existing clause (e), the following shall be substituted, namely: "(e) Security Receipts (SRs) issued by Asset Reconstruction Companies up to 100 per cent of each tranche, subject to directions/guidelines of Reserve Bank of India". (ii) In paragraph 1B, in sub paragraph (iii), f....