Foreign Exchange Management (Acquisition and Transfer of Imm

Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) (Second Amendment) Regulations, 2009 - Amendment in regulation 2

Notification No. G.S.R. 813(E) [FEMA 200/2009-RB]

Dated 5-10-2009

In exercise of the powers conferred by clause (i) of sub-section (3) of Section 6, and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendment in the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000 (Notification No. FEMA 21 /2000-RB dated May 3,2000), namely :—

1. Short title and commencement.—(i) These Regulations may be called the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) (Second Amendment) Regulations, 2009.

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

2. Amendment of regulation 2.—In the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000 (Notification No. FEMA 21/2000-RB dated May 3,2000, in regulation 2, clause (c), sub-clause (ii) shall be substituted by the following, namely:—

‘(ii) who or either of whose father or mother or whose grandfather or grandmother was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955).'