Date: 31-03-2005 Notification No: RBI Notification No FEMA 132/2005 RB Issuing Authority: RBI Type: FEMA Notification File No: Subject: Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2005 G.S.R. 220(E).-In exercise of the powers conferred by clause (a) of Sub-section (3) of Section 6, and Sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in partial modification of its Notification No. FEMA 120/RB-2004 dated 7th July, 2004, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004, namely :-1. Short title and Commencement :-(i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2005.(ii) They shall come into force on the dates specified hereunder. 2. Amendment to the Regulations :-(i) In Regulation 22, sub regulation (2) shall be substituted with the following which shall be deemed to have come into force with effect from February 9, 2005.2"A person resident in India, being an individual, who is an employee or a director of an Indian office or branch of a foreign company or of a subsidiary in India of a foreign company or of an Indian company in which the foreign equity holding, either directly or indirectly, is not less than 51 per cent, may purchase the equity shares offered by the said foreign company.ExplanationFor the purpose of this clause, 'indirectly' means indirect foreign equity holding through a special purpose vehicle or a step down subsidiary."(ii) In Regulation 24, sub-regulation (3), shall be substituted with the following, which shall be deemed to have come into force with effect from 1st October 2004:3"(3) An Indian company in the knowledge based sector may allow its resident employees (including working directors) to purchase foreign securities under the ADR/GDR linked stock option schemes:Provided that the issue of employees stock option by a listed company shall be governed by SEBI (Employees Stock Option and Stock Purchase Scheme) Guidelines, 1999 and the issue of employees stock option by an unlisted company shall be governed by the guidelines issued by the Government of India for issue of ADR/GDR linked stock options.Provided further that the consideration for the purchase does not exceed the ceiling as stipulated by the Reserve Bank from time to time.Explanation: For the purpose of this clause 'knowledge based sector' means such sectors as have been notified by the Government of India from time to time in terms of its guidelines for the issue of ADR/GDR linked Employees Stock Options by the Indian Companies dated 15th September 2000." Sd/-( F R Joseph )Chief General ManagerFoot Note :-1. The Principal Regulations were published in the Official Gazette vide G.S.R. No. 456(E) dated May 8, 2000 in Part II, Section 3, Sub-section (i) and subsequently superseded vide No. G.S.R. 757(E) dated November 19, 2004.2. After a review, the condition regarding direct holding has been removed to facilitate acquisition of shares under ESOP offered by a foreign company even if the shareholding in the Indian company is held indirectly. AP (Dir Series) Circular No.32 dated February 9, 2005 was issued to give effect to this Regulation from that date.3. Government of India vide their press note dated 26th July 2004 have modified guidelines for issue of ADR/GDR linked ESOP by the Indian companies necessitating amendment to the FEMA Regulations pertaining to ADR/GDR linked ESOP. AP (Dir Series) Circular No. 14 dated October 1, 2004 was issued to give effect to this Regulation from that date.Note : This notification has been Gazetted on 7th April, 2005.
Get Sample Now Which service(s) are you interested in? Export Data Import Data Both Buyers Suppliers Both OR Exim Help + Exim News Date: 04-08-2025 US penalty risk on Russian oil may add $9-11 billion to India's import bill Date: 04-08-2025 Pakistan, Iran decide to increase bilateral trade to USD 8 billion annually Date: 04-08-2025 2025, another 1857 moment Date: 04-08-2025 Trump tariffs power India's swadeshi drive Date: 04-08-2025 DonaldTrump plans to distribute record$30 billion tariff collection among Americans:Who are eligible Date: 02-08-2025 US tariffs: Myanmar, Laos, Syria hit with steepest levies Date: 02-08-2025 Proposed Canada-US trade deal could still be weeks away, says Ottawa Date: 02-08-2025 India hardens stance in US trade talks; refuses tariff cuts on farm, dairy, GM foods as Trump escala Date: 02-08-2025 School Assembly Headlines for August 2: Top national, international, sports and business updates Date: 02-08-2025 Atlassian boss Mike Cannon-Brookes axes 150 jobs via AI, then defends his private jet in brutal vide What is New? Date: 31-07-2025 Notification No. 49/2025-CUSTOMS (N.T.) Fixation of Tariff Value of Edible Oils,Brass Scrap, Areca Nut, Gold and Silver Date: 19-07-2025 Notification No. 34/2025-Customs Seeks to amend notification No. 146/94-Customs, dated the 13th July, 1994 to omit serial number 10A. Date: 18-07-2025 Notification No. 33/2025-Customs Seeks to amend notification No. 146/94-Customs, dated the 13th July, 1994 to provide exemption on import of Horses for Polo (HS 0101 29 10) under specified condition. Date: 16-07-2025 Notification No. 47/2025-Customs (N.T.) Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s. Ammega Belting India Pvt. Ltd. -reg Date: 15-07-2025 Notification No. 46/2025-CUSTOMS (N.T.) Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver Date: 30-06-2025 Notification No. 44/2025-CUSTOMS (N.T.) Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver Date: 30-06-2025 Notification No. 32/2025-Customs Seeks to amend Notification No.130/2010- Customs dated 23.12.2010 to extend the exemption benefits to Air Canada. Date: 13-06-2025 Notification No. 43/2025-CUSTOMS (N.T.) Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver Date: 11-06-2025 Notification No. 42/2025-CUSTOMS (N.T.) Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver Date: 06-06-2025 Notification No. 13/2025-Customs (ADD) Seeks to impose Anti Dumping Duty on imports of ‘Insoluble Sulphur’ originating in or exported from China PR and Japan.
Indian Customs CBEC - Indian Customs Offices Indian Customs Duty Customs Exchange Rate HS Code List - Countrywise Safegaurd Duty Anti Dumping Duty Duty Drawback Rates
DGFT Dgft offices in India Exim Policy IEC Number Dgft Notification Dgft Public Notices Dgft Circulars Trade Notice Depb Rates
Central Excise Central Excise Offices Central Excise Duty Central Excise Notification Central Excise Notification tarrif Central Excise Notification Non-Tarrif Central Excise Circulars Central Excise Instruction Central Excise Manual