A.P. (DIR Series) (2003-2004) Circular No. 8, dated 16-8-2003
Attention of
authorised dealers is invited to A.P. (DIR Series) circulars indicated in the
Annexure. It was mentioned therein that necessary amendments to the Foreign
Exchange Management Regulations, 2000 were being issued separately. The
relevant amendments issued by Reserve Bank and notified by the Government, in
the Official Gazette, are indicated in the Annexure.
2. A copy each of these Notifications
mentioned in the Annexure is enclosed to enable authorised dealers to carry out
the amendments in the relevant notifications.
3. Authorised dealers may bring the
contents of this circular to the notice of their constituents concerned.
4. The directions contained in this
circular have been issued under section 10(4) and section 11(1) of the Foreign
Exchange Management Act, 1999 (42 of 1999).
Annexure
I. Reserve Bank Notifications - Amendment to Foreign Exchange
Management Regulations, 2000 issued under the Foreign Exchange Management Act,
1999
|
Sr. No. |
A.P. (DIR Series) Circular |
FEMA Notification |
||
|
|
No. and date |
Subject |
No./date/subject |
G.S.R. No. |
|
1 |
2 |
3 |
4 |
5 |
|
1. |
34/1-4-2002 |
Facility to Status Holder
Exporters - Credit to the EEFC account |
FEMA. No. 58/RB-2002/1-4-2002/ Foreign Exchange
Management (Foreign Currency Accounts by a Person Resident in India) (Second
Amendment) Regulations, 2002 |
474
(E) |
|
2. |
35/1-4-2002 |
Export of Goods and
Services - Facilities to Status Holder Exporters |
FEMA. No.
57/RB-2002/1-4-2002/ Foreign Exchange Management(Export of Goods and
Services) (Amendment) Regulations, 2002 |
473(E) |
|
3. |
40/29-4-2002 |
Investment in and
Borrowing from Overseas Markets |
FEMA. No.
60/RB-2002/29-4-2002/ Foreign Exchange Management(Borrowing or Lending in
Foreign Exchange) (Amendment) Regulations, 2002 |
476(E) |
|
4. |
58/2-12-2002 |
Indian Direct Investment
in SAARC countries and Myanmar |
FEMA.No.
79/RB-2003/15-1-2003/ Foreign Exchange Management (Transfer or issue of any
Foreign Security) (Amendment) Regulations, 2003 |
34
(E) |
|
5. |
62/17-12-2002 |
Exchange Earners’ Foreign
Currency (EEFC) Account Scheme |
FEMA.No.
77/RB-2002/25-11-2003/ Foreign Exchange Management (Foreign Currency
Accounts by a Person Resident in India) (Sixth Amendment) Regulations, 2002 |
224(E) |
|
6. |
64/24-12-2002 |
Resident Foreign Currency
(Domestic) Account-Facility for Resident Individuals |
FEMA.No.
90/RB-2003/23-5-2003/ Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India)
(Third Amendment) Regulations, 2003 |
453(E) |
|
7. |
66/13-1-2003 |
Overseas Investments |
FEMA. No.
88/RB-2003/1-4-2003/ Foreign Exchange Management (Transfer or Issue of any
Foreign Security) (Second Amendment) Regulations, 2003 |
399(E) |
|
8. |
75/3-2-2003 |
Sponsored ADRs/GDRs
Receipt of Disinvestment Proceeds |
FEMA.No. 90/RB-2003/23-5-2003/
Foreign Exchange Management (Foreign Currency Accounts by a Person Resident
in India) (Third Amendment) Regulations, 2003. |
453(E) |
II. Government
Notification - Amendments to Foreign Exchange Management (Current Account
Transactions) Rules, 2000
|
Sr. No. |
No. and date of A.P. (DIR Series) Circular |
Subject |
Subject/No./ date of Notification in the Gazette of
India |
|
1 |
2 |
3 |
4 |
|
1. |
51/18-11-2002 |
Increase
in release of foreign exchange for private visits abroad |
G.S.R.
No. 831 (E) dated 17-12-2002 Foreign Exchange Management (Current Account
Transactions) Rules, 2002. |