Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India)
(Third Amendment) Regulations, 2003

In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6, Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No. FEMA 20/2000- RB dated 3^rd May, 2000, as amended from time to time, the Reserve Bank of India makes the following Regulations to amend the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, namely: -

1. (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Third Amendment) Regulations, 2003.
(ii) They shall come into force from the date of their publication in the Official Gazette.

2. In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000,

1. in Regulation 2, after clause (ii) the following clause shall be inserted, '(iia) ‘entity incorporated outside India’ means an entity incorporated/registered under the relevant statutes, laws of the host country'.

2. in Regulation 5, sub–regulation (1),for the words 'or an entity outside India, whether incorporated or not,' the words 'or an entity incorporated outside India,' shall be substituted.