Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Third Amendment) Regulations, 2009

Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Third Amendment) Regulations, 2009

RESERVE BANK OF INDIA

(FOREIGN EXCHANGE DEPARTMENT)

CENTRAL OFFICE

MUMBAI

Notification No. FEMA 197/2009-RB

September 22 , 2009

Foreign Exchange Management

(Borrowing or Lending in Foreign Exchange)

(Third Amendment) Regulations, 2009

In exercise of the powers conferred by clause (d) 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 amendments in the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000(Notification No.FEMA.3/2000-RB dated May 3, 2000), namely:-

1.  Short title and commencement :

(a) These Regulations may be called the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Third Amendment) Regulations, 2009

(b) They shall be deemed to have come into force from the June 30, 2009.

2.   Amendment of the Regulations :

In the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 (Notification No.FEMA.3/2000-RB dated May 3, 2000), in Schedule I, in paragraph (1),in sub-paragraph (i),

(I) after clause (a), the following proviso  shall be inserted, namely:-

    "provided that they have not at any time violated any of the provisions of these regulations and no investigation is pending against them for contravention of the provisions of these regulations under the Act."

(II) after clause (b), the following proviso shall be inserted, namely:-

    "provided that they have not at any time violated any of the provisions of these regulations and no investigation is pending against them for contravention of the provisions of these regulations under the Act."

(III)  after clause (c), the following proviso shall be inserted, namely:-

    "provided that they have not at any time violated any of the provisions of these regulations and no investigation is pending against them for contravention of the provisions of these regulations under the Act."

(Salim Gangadharan)

Chief General Manager-in-Charge

Foot Note:

The Principal Regulations were published in the Official Gazette vide No. G.S.R. No.386 (E) dated May 5, 2000 in Part II, Section 3, sub-section (i) and subsequently amended vide:

         1. No. G.S.R.674 (E) dated August 25,2000

         2. No. G.S.R.476 (E) dated July 8,2002

         3. No. G.S.R.854 (E) dated December 31,2002

         4. No. G.S.R.531 (E) dated July 9,2003

         5. No. G.S.R.533 (E) dated July 9,2003

         6. No. G.S.R.208 (E) dated March 23,2004

         7. No. G.S.R.825 (E) dated  December 22,2004

         8. No. G.S.R.60   (E) dated  February 9,2005

         9. No. G.S.R.739 (E) dated  December 22,2005

        10. No. G.S.R.663 (E) dated  October 16,2007

        11. No. G.S.R.61   (E) dated  January 30,2009

        12. No. G.S.R.547(E)    dated  July 27, 2009

      Published in the Official Gazette of Government

      of India – Extraordinary – Part-II, Section 3,

      Sub-Section (i) dated 23.11.2009 - G.S.R.No.836(E)