| Date: |
16-02-2001
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| Notification No: |
FEMA Notification No 35/2001
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| Issuing Authority: |
RBI
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| Type: |
Notification
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| File No: |
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| Subject: |
Transfer or Issue of Security by a Person Resident outside India
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EXCHANGE CONTROL DEPARTMENT
CENTRAL OFFICE
MUMBAI – 400 001
Notification No. FEMA 35 /2001-RB.
dated 16 February 2001
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) and in partial modification of its Notification No.FEMA 20/2000-RB dated 3rd May 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, as amended from time to time, namely:-
1. (1) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2001.
(2) They shall come into force with immediate effect.
- In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, in Regulation 5,
(i) after Sub-regulation (2), the following proviso shall be added, namely:
'Provided that the FII shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector.'
(ii) after Sub-regulation (3), the following proviso shall be added, namely:
'Provided that the NRI/OCB shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector.'
(iii) after Sub-regulation (5), the following proviso shall be added, namely:
'Provided that the Foreign Venture Capital Investor shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector.'
Sd/-
(J. Capoor)
Deputy Governor
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