RESERVE BANK OF INDIA
FOREIGN EXCHANGE DEPARTMENT
CENTRAL OFFICE
MUMBAI-400 001
Notification No. FEMA. 345/2015-RB
November 16, 2015
Foreign Exchange Management (Permissible Capital Account
Transactions) (Fourth Amendment) Regulations, 2015
In exercise of the powers conferred by sub-section (2) of Section 6, sub-section
(2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the
Reserve Bank of India makes, in consultation with the Central Government, the
following amendments in the Foreign Exchange Management (Permissible Capital
Account Transactions) Regulations, 2000 (Notification No. FEMA.1/2000-RB dated
3rd May 2000), namely:-
1. Short Title & Commencement:-
(i) These Regulations may be called the Foreign Exchange Management (Permissible
Capital Account Transactions) ( Fourth Amendment) Regulations, 2015.
(ii) They shall come into force from the date of their publication in the
Official Gazette.
2. Amendment to the Regulation:-
In the Foreign Exchange Management (Permissible Capital Account Transactions)
Regulations, 2000 (Notification No. FEMA 1/2000-RB dated 3rd May 2000), in
Regulation 4, in sub-regulation (b), the existing Explanation (i) shall be
substituted by the following namely:
“(i) For the purpose of this regulation, “real estate business” shall not
include development of townships, construction of residential /commercial
premises, roads or bridges and Real Estate Investment Trusts (REITs) registered
and regulated under the SEBI (REITs) Regulations 2014”
(B. P. Kanungo)
Principal Chief General Manager
Foot Note:
The Principal Regulations were published in the Official Gazette vide No.
G.S.R. No.384 (E) dated May 5, 2000 in Part II, Section 3, sub-section (i) and
subsequently amended vide:
G.S.R.207 (E) dated March 23, 2004
G.S.R.14 (E) dated January 5, 2008
G.S.R.551 (E) dated August 14, 2013
G.S.R. 488 (E) dated July 11, 2014
G.S.R. 283 (E) dated April 13, 2015
G.S.R. 425 (E) dated May 26, 2015
Published in the Official Gazette of Government of India –Extraordinary – Part-II, Section 3,
Sub-Section (i) dated 16.11.2015- G.S.R.No.859(E)
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