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Foreign Exchange Management (Foreign Currency Account by a Person
Resident in India) (Amendment) Regulations, 2002
FEMA
Notification No. 77 dated 25th November 2002
In
exercise of the powers conferred by clause (b) of Section 9 and clause (e) of
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 10/ 2000-RB
dated 3rd May 2000, Reserve Bank of India makes the following
amendments to Foreign Exchange Management (Foreign Currency Account by a person
Resident in India) Regulations, 2000, namely: -
1.
Short title and commencement:
(i)
These Regulations may be called the Foreign Exchange Management (Foreign
Currency Account by a Person Resident in India) (Sixth Amendment) Regulations,
2002.
(ii)
They shall come into force on their publication in the official gazette.
2.
Amendment of the Regulations
In
the Foreign Exchange Management (Foreign Currency Account by a Person Resident
in India) Regulations, 2000 in the Schedule, in paragraph 1, in sub-paragraph
(1A), in clause (ii), after the words �to a unit in Domestic Tariff Area�,
the following words shall be added, namely:
�and
also payments received in foreign exchange by a unit in Domestic Tariff Area for
supply of goods to a unit in Special Economic Zone (SEZ).�
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