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RESERVE BANK OF INDIA
(FOREIGN EXCHANGE DEPARTMENT)
CENTRAL OFFICE
MUMBAI 400 001
Notification No.FEMA.130/2005-RB
Dated March 17, 2005
Foreign Exchange Management (Transfer
or issue of Security by a Person Resident outside India) (Amendment)
Regulations, 2005
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:
Short Title & Commencement:-
(i) These Regulations may be called
the Foreign Exchange Management (Transfer or issue of Security by a Person Resident
outside India) (Amendment) Regulations, 2005
(ii) They shall come into force from the date of
their publication in the official gazette.
Amendment of the Regulations:-
In the Foreign Exchange Management
(Transfer or Issue of Security by a Person Resident outside India) Regulations,
2000,
a) in Annexure A to Schedule 1,in para (A),
(i) Item No.1 shall be deleted
and the existing items 2 to12 may be renumbered as 1 to 11
(ii) in existing item No.2
the following may be added, namely:
'Natural Gas/LNG Pipelines'
b) in the table shown in Annexure
B to Schedule1,
(i) existing item No.5 shall
be renumbered as item No. 5(i) and (ii) the following sub-items shall
be inserted under the headings Sector, Investment Cap, Description of
Activity / Items / Conditions respectively, namely:
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(ii) Petroleum Product Marketing
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100%
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Subject to the existing sectoral policy and
regulatory framework in the oil marketing sector.
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(iii) Oil Exploration in both small and medium
sized fields
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100%
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Subject to and under the policy of Government
on private participation in -
(a) exploration of oil and
(b) the discovered fields of national oil
companies.
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(iv) Petroleum Product Pipelines
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100%
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Subject to and under the Government Policy
and regulations thereof.
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(iii) after item No.21, under the
headings Sector, Investment Cap, Description of Activity /items / Conditions,
the following shall be inserted respectively, namely:
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22. Air Transport Services
(Domestic Airlines)
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100% for NRIs
49% for others
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No direct or indirect equity
participation by foreign airlines is allowed
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( F. R. Joseph )
Chief General Manager
Footnote: 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:
G.S.R.No.158 (E) dated 02.03.2001
G.S.R.No.175(E) dated 13.03.2001
G.S.R.No.182(E) dated 14.03.2001
G.S.R.No.4(E) dated 02.01.2002
G.S.R.No.574(E) dated 19.08.2002
G.S.R.No.223(E) dated 18.03.2003
G.S.R.No.225(E) dated 18.03.2003
G.S.R.No.558 (E) dated 22.07.2003
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 07.01.2004
G.S.R.No.278(E) dated 23.04.2004
G.S.R.No.625(E) dated 21.09.2004
G.S.R.No.799(E) dated 08.12.2004
G.S.R.No.201(E) dated 01.04.2005
Published in the Official Gazette of Government
of India - Extraordinary - Part-II, Section 3,
Sub-Section (i) dated 01.04.2005 - G.S.R.No.201(E)
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