Transfer or Issue of Security by a Person Resident outside India

Dated 30th September, 2015 | Copy Of | Notification No.FEMA.351/2015 RB |

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Seventh Amendment) Regulations, 2015

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 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) (Seventh Amendment) Regulations, 2015. 

(ii) They shall come into force from the date of their publication in the Official Gazette.

2. Amendment to Schedule 9:-

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), in Schedule 9, in Para 7, after clause (iii), the following shall be inserted, namely:-

“(iv) All LLPs which have received Foreign Direct Investment in the previous year(s) including the current year shall submit to the Reserve Bank of India, on or before the 15th day of July of each year, a report titled ‘Annual Return on Foreign Liabilities and Assets’ as specified by the Reserve Bank from time to time”

Sd/- (B.P. Kanungo) Principal Chief General Manager

G.S.R.745(E) F.No.1/25/EM/2015 Issued by: Reserve Bank of India (Foreign Exchange Department) (Central Office) Mumbai

Foot Note : The Principal Regulations were published in the Official Gazette vide G.S.R. No. 406(E), dated May 8, 2000 in Part II, Section 3, sub-section (i) and subsequently amended as under:-