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RESERVE BANK OF INDIA
(Foreign Exchange Department)
(CENTRAL OFFICE)
NOTIFICATION No. FEMA. 379/ 2016-RB
Mumbai, the 4th November, 2016
Foreign Exchange Management (Transfer or Issue of
Security by a Person Resident outside India) (Sixteenth Amendment) Regulations,
2016
G.S.R. 1042(E).-In exercise of the powers conferred by clause (b) of
sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management
Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following
amendments in the Foreign Exchange Management (Transfer or issue of Security by
a Person Resident outside India) Regulations, 2000 (Notification No. FEMA.
20/2000-RB dated 3rd May 2000), (hereinafter referred to as 'the Principal
Regulations') namely:-
1. Short Title & Commencement:-
(i) These Regulations may be called the Foreign Exchange Management (Transfer or
Issue of Security by a Person Resident outside India) (Sixteenth Amendment)
Regulations, 2016.
(ii) They shall come into force from the date of their publication in the
Official Gazette.
2. Amendment of the Schedule 1
In the Foreign Exchange Management (Transfer or Issue of Security by a Person
Resident outside India) Regulations, 2000, (Notification No. FEMA 20/2000-RB
dated 3rd May 2000), in Schedule 1, in Annex B, for the existing entry F.10, the
following shall be substituted, namely:
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F.10.
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Pension
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49%
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Automatic route
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F.10.1
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Other Conditions
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(a) Foreign investment in the Pension Funds is allowed as per the
Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013.
(b) Foreign investment in Pension Funds will be subject to the
condition that entities bringing in foreign investments as equity shares
or preference shares or convertible debentures or warrants as per
Section 24 of the PFRDA Act, 2013 shall obtain necessary registration
from the PFRDA and comply with other requirements as per the PFRDA Act,
2013 and Rules and Regulations framed under it for so participating in
Pension Fund Management activities in India.
(c) An Indian pension fund shall ensure that its ownership and
control remains at all times in the hands of resident Indian entities as
determined by the Government of India / PFRDA as per the
rules/regulation issued by them from time to time. The meaning of
ownership and control would be as defined in Regulation 14 of the
Principal Regulations.
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[F. No. 1/11/ EM-2016]
SHEKHAR BHATNAGAR,
Chief General Manager-In Charge
Foot Note:- The Principal Regulations were published in the Official Gazette
vide
G.S.R. No. 406(E) dated May 8, 2000 in Part II, Section 3, sub-Section (i)
and subsequently amended as under:-
G.S.R.No. 158(E) dated 02.03.2001
G.S.R.No. 175(E) dated 13.03.2001
G.S.R.No. 182(E) dated 14.03.2001
G.S.R.No. 4(E) dated 02.01.2002
G.S.R.No. 574(E) dated 19.08.2002
G.S.R.No. 223(E) dated 18.03.2003
G.S.R.No. 225(E) dated 18.03.2003
G.S.R.No. 558(E) dated 22.07.2003
G.S.R.No. 835(E) dated 23.10.2003
G.S.R.No. 899(E) dated 22.11.2003
G.S.R.No. 12(E) dated 07.01.2004
G.S.R.No. 278(E) dated 23.04.2004
G.S.R.No. 454(E) dated 16.07.2004
G.S.R.No. 625(E) dated 21.09.2004
G.S.R.No. 799(E) dated 08.12.2004
G.S.R.No. 201(E) dated 01.04.2005
G.S.R.No. 202(E) dated 01.04.2005
G.S.R.No. 504(E) dated 25.07.2005
G.S.R.No. 505(E) dated 25.07.2005
G.S.R.No. 513(E) dated 29.07.2005
G.S.R.No. 738(E) dated 22.12.2005
G.S.R.No. 29(E) dated 19.01.2006
G.S.R.No. 413(E) dated 11.07.2006
G.S.R.No. 712(E) dated 14.11.2007
G.S.R.No. 713(E) dated 14.11.2007
G.S.R.No. 737(E) dated 29.11.2007
G.S.R.No. 575(E) dated 05.08.2008
G.S.R.No. 896(E) dated 30.12.2008
G.S.R.No. 851(E) dated 01.12.2009
G.S.R.No. 341 (E) dated 21.04.2010
G.S.R.No. 821 (E) dated 10.11.2012
G.S.R.No. 606(E) dated 03.08.2012
G.S.R.No. 795(E) dated 30.10.2012
G.S.R.No. 796(E) dated 30.10.2012
G.S.R. No. 797(E) dated 30.10.2012
G.S.R.No. 945 (E) dated 31.12.2012
G.S.R. No.946(E) dated 31.12.2012
G.S.R. No.38(E) dated 22.01.2013
G.S.R.No.515(E) dated 30.07.2013
G.S.R.No.532(E) dated 05.08.2013
G.S.R. No.341(E) dated 28.05.2013
G.S.R.No.344(E) dated 29.05.2013
G.S.R. No.195(E) dated 01.04.2013
G.S.R.No.393(E) dated 21.06.2013
G.S.R.No.591(E) dated 04.09.2013
G.S.R.No.596(E) dated 06.09.2013
G.S.R.No.597(E) dated 06.09.2013
G.S.R.No.681(E) dated 11.10.2013
G.S.R.No.682(E) dated 11.10.2013
G.S.R. No.818(E) dated 31.12.2013
G.S.R. No.805(E) dated 30.12.2013
G.S.R.No.683(E) dated 11.10.2013
G.S.R.No.189(E) dated 19.03.2014
G.S.R.No.190(E) dated 19.03.2014
G.S.R.No.270(E) dated 07.04.2014
G.S.R.No. 361 (E) dated 27.05.2014
G.S.R.No.370(E) dated 30.05.2014
G.S.R.No.371(E) dated 30.05.2014
G.S.R.No. 435 (E) dated 08.07.2014
G.S.R.No. 400 (E) dated 12.06.2014
G.S.R.No. 436 (E) dated 08.07.2014
G.S.R.No. 487 (E) dated 11.07.2014
G.S.R.No. 632 (E) dated 02.09.2014
G.S.R.No. 798 (E) dated 13.11.2014
G.S.R.No. 799 (E) dated 13.11.2014
G.S.R.No. 800 (E) dated 13.11.2014
G.S.R.No. 829 (E) dated 21.11.2014
G.S.R.No. 906(E) dated 22.12.2014
G.S.R.No. 914 (E) dated 24.12.2014
G.S.R.No. 30 (E) dated 14.01.2015
G.S.R.No. 183 (E) dated 12.03.2015
G.S.R.No. 284 (E) dated 13.04.2015
G.S.R.No. 484 (E) dated 11.06.2015
G.S.R.No. 745 (E) dated 30.09.2015
G.S.R.No. 759 (E) dated 06.10.2015
G.S.R.No. 823 (E) dated 30.10.2015
G.S.R.No. 858 (E) dated 16.11.2015
G.S.R.No. 983 (E) dated 17.12.2015
G.S.R.No. 165 (E) dated 15.02.2016
G.S.R.No. 166 (E) dated 15.02.2016
G.S.R.No. 369 (E) dated 30.03.2016
G.S.R.No. 537 (E) dated 20.05.2016
G.S.R.No. 879 (E) dated 09.09.2016
G.S.R.No. 1015 (E) dated 27.10.2016
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