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