Definition of Security (FEMA.223/ 2012-RB 07.03.2012)

Relative A.P. (DIR) circular: -- RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) Mumbai Notification No.FEMA.223/2012-RB March 7, 2012 Definition of 'Security' In pursuance of clause (za) of Section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999) (FEMA), the Reserve Bank notifies Indian Depository Receipts (IDRs) as defined under clause © of sub-rule (i) of Rule 3 of Companies (Issue of Indian Depository Receipts) Rules, 2004, as "security" for the purposes of FEMA. (Meena Hemchandra) Chief General Manager-in-Charge Published in the Official Gazette of Government of India – Extraordinary – Part-II, Section 3, Sub-Section (i) dated 31.12.2012 – G.S.R.No.944(E)