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The Reserve Bank of India notifies that specific provisos to regulation 10 of the Foreign Exchange Management Regulations come into force on June 02, 2018. This update applies to persons resident outside India who transfer or issue securities. The affected parties follow the commencement date for the specified regulatory provisos.
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Reserve Bank of India Foreign Exchange Department Central Office Mumbai
Notification No. FEMA.20(R) (2)/2018-RB
June 01, 2018
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2018
In exercise of the powers conferred by clause (b) of sub-section (3) of section 6 read with section 47 of the Foreign Exchange Management Act, 1999, Reserve Bank of India hereby notifies that proviso (ii) to sub-regulation (1) of regulation 10 and proviso (ii) to sub-regulation (2) of regulation 10 of the Foreign Exchange Management (Transfer or Issue of Security by a person resident outside India) Regulations, 2017, shall come into force with effect from June 02, 2018.
(Shekhar Bhatnagar) Chief General Manager-in-Charge
Foot Note:- The Principal Regulations were published in the Official Gazette vide G.S.R. No. 1374(E) dated November 07, 2017 in Part II, Section 3, sub-Section (i) and subsequently amended as under G.S.R. No.279(E) dated 26.03.2018 G.S.R. No.520(E) dated 01.06.2018
