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Notification No. FEMA 182/ RB-2009
Dated January 13, 2009
Foreign Exchange Management (Borrowing or Lending
in Foreign Exchange)
(Amendment) Regulations, 2009.
In exercise of the powers conferred by Clause (d) of sub-section (3) of
Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management
Act, 1999 (42 of 1999), the Reserve Bank hereby makes the following amendments
in the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange)
Regulations, 2000, (Notification No.FEMA 3/RB-2000 dated May 3, 2000), namely:-
- Short Title and Commencement:
(i) These Regulations may be called the Foreign Exchange Management
(Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2009.
(ii) They shall be deemed to have come into effect from the 15th day of
October, 2008 @.
- Amendment of Regulation 4 -
In the Foreign Exchange Management (Borrowing or Lending in Foreign
Exchange) Regulations, 2000 (Notification No. FEMA 3/RB-2000 dated May 3,
2000), in Regulation 4, in sub-regulation (2)(i), the words "twenty five
percent" shall be substituted by the words "fifty percent" and shall be
deemed to have been substituted with effect from the 15th day of October,
2008.
(Salim Gangadharan)
Chief General Manager - in - Charge
Footnote:-
1. @ It is clarified that no person will be adversely affected as a result of
retrospective effect being given to these regulations.
2. The principal regulations were published in the Official Gazette vide GSR
No.386(E) dated May 5, 2000 in Part II, Section 3, sub-section (i) and
subsequently amended vide -
GSR.No.674(E) dt.25-8-2000
GSR.No.476(E) dt.8-7-2002
GSR.No.854(E) dt.31-12-2002
GSR.No.531(E) dt.9-7-2003
GSR.No.533(E) dt.9-7-2003
GSR.No.208(E) dt.23-3-2004
GSR.No.825(E) dt.22-12-2004
GSR.No. 60 (E) dt.9-2-2005
GSR.No.739(E) dt.22-12-2005
GSR.No.663(E) dt.16-10-2007
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