Foreign Exchange Management Deposit Amendment Regulations 2019. Regulation authorising Indian company to accept deposit by issue of Commercial Paper deleted
RESERVE BANK OF INDIA
(FOREIGN EXCHANGE DEPARTMENT)
(CENTRAL OFFICE)
Notification No. FEMA 5 (R) 2 /2019-RB
Mumbai, the 16th July, 2019
Foreign Exchange Management (Deposit)(Amendment) Regulations, 2019
G.S.R. 498 (E).— In exercise of the powers conferred by clause (f) of sub-section (3) of Section 6 and subsection (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No. FEMA 5(R)/2016-RB dated April 01, 2016, the Reserve Bank makes the following amendment in the Foreign Exchange Management (Deposit) Regulations, 2016, as amended from time to time, namely :-
2. Short title and commencement: –
(i) These Regulations may be called the Foreign Exchange Management (Deposit) (Amendment) Regulations, 2019.
(ii) They shall come into force with effect from the date of their publication in the Official Gazette.
3. Amendment of the regulations: –
Sub-regulation 3 of regulation 6 including all the words and expressions contained therein shall be deleted.
[F.No. 1/31/EM/2015]
R.K.MOOLCHANDANI, Chief General Manager
Foot Note: The Principal Regulations were published in the Official Gazette vide No. G.S.R. 389(E) dated April 01, 2016 in Part II, Section 3, sub-section (i) and subsequently amended vide G.S.R.1093 (E) dated 09.11.2018.
Read Latest Posts:
- Under NI Act if cheque signed by drawer is given to payee ’reverse onus clause’ u/s 139 attracted
- High Court grants bail to Income Tax Officer accused of demanding bribe of Rs. 25000/-
- ICAI bans Twelve Chartered Accountants being guilty of professional misconduct
- Cash deposit in demonetisation held exempt assessee being resident of Arunachal Pradesh
- ITAT deleted addition made on presumption – there cannot be loss in restaurant business