RESERVE BANK OF INDIA
(FOREIGN EXCHANGE DEPARTMENT)
CENTRAL OFFICE
MUMBAI 400 001
Notification No.FEMA.118/2004-RB dated June
16, 2004
Foreign Exchange Management (Transfer or
Issue of Security by a Person Resident Outside India) (Third Amendment) Regulations,
2004
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) and in partial modification of its Notification
No.FEMA.20/2000-RB, dated 3rd May 2000, the Reserve Bank of India
makes the following amendments in the Foreign Exchange Management (Transfer
or Issue of Security by a Person Resident Outside India) Regulations, 2000,
as amended from time to time, namely :
1. Short title and commencement
(1) These regulations may be called the Foreign
Exchange Management (Transfer or Issue of Security by a Person Resident Outside
India) (Third Amendment) Regulations, 2004.
(2) They shall come into force with immediate
effect.
2. Amendment to the Regulations
In the Foreign Exchange Management (Transfer
or Issue of Security by a Person Resident Outside India) Regulations, 2000,
in Schedule I, in paragraph 4, in Sub-paragraph (4), the existing clause (a)
may be replaced with the following clause :
(a) 'deposits with or Certificate of Deposit
or other instruments offered by banks who have been rated by Standard and
Poor, Fitch, IBCA or Moody's etc. and such rating not being less than the
rating stipulated by Reserve Bank from time to time for the purpose'.
Sd/-
Shyamala Gopinath
Executive Director
Foot Note : The Principal Regulations
were published in the Official Gazette vide G.S.R.No.406(E) dated May 3, 2000
in Part II, Section 3, sub-section (i) and subsequently amended as under :-……………………..
RBI Notification No.FEMA.20/2000-RB dated 3/5/2000
G.S.R.No.175(E) dated 13/3/2001
G.S.R.No.182(E) dated 14/3/2001
G.S.R.No.158(E) dated 2/3/2001
G.S.R.No.574(E) dated 19/8/2002
G.S.R.No.4(E) dated 2/1/2002
G.S.R.No.223(E) dated 18/3/2003
G.S.R.No.225(E) dated 18/3/2003
G.S.R.No.558(E) dated 22/7/2003
G.S.R.No.835(E) dated 23/10/2003
G.S.R.No.899(E) dated 22/11/2003
G.S.R.No.12(E) dated 7/1/2004
G.S.R.No.278(E) dated 23/04/2004
G.S.R.No.454(E)/16.07.2004
Published in the Official Gazette of Government
of India - Extraordinary - Part-II, Section 3,
Sub-Section (i) dated 16.07.2004 - G.S.R.No.454(E)
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