Reserve Bank of India
Foreign Exchange Department
Central office
Mumbai

Notification No.FEMA. 304/2014-RB.

May 22, 2014

Foreign Exchange Management (Transfer or issue of Security by a Person
Resident outside India) (fifth Amendment) Regulations, 2014

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 May 3, 2000), namely:-

1. Short Title & Commencement

(a) These Regulations may be called the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) (fifth Amendment) Regulations, 2014.

(b) They shall come into force from the date of their publication in the Official Gazette.

2. Amendment to Schedule 5

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 May 3, 2000), in Schedule 5,

(A) in paragraph 1, after the existing clause (k) and before the existing proviso, the following shall be inserted, namely:-

“(l) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations."

(B) in paragraph 1A, in clause (v), after sub-clause (h), the following shall be inserted, namely:-

“(i) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations."

(C) in paragraph 1B, in clause (iii), after sub-clause (j), the following shall be inserted, namely:-

“(k) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations."

(D) in paragraph 1C, in clause (1), after sub-clause (k), the following shall be inserted, namely:-

“(l) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2)of these Regulations."

(E) in paragraph 2,

(a) in clause (1A), after sub-clause (iv), the following shall be added, namely:-

“(v) listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations."

(b) in clause (2) the following shall be added, namely:-

“A Non-resident Indian may, without limit, purchase on non-repatriation basis, listed non-convertible/redeemable preference shares or debentures issued in terms of Regulation 7 (2) of these Regulations."

(C.D.Srinivasan)
Chief General Manager

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