Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2013

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 namely:-

1. Short Title & Commencement

(i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Second Amendment) Regulations, 2013.

2. Amendment of Schedule 5

(a) In paragraph 1, in clauses (g) and (h) the words “and lock-in period” shall be omitted.

(b) In paragraph 1, in clause (i), the words “lock-in period and” and “provided that the FIIs may trade such bonds / units amongst the eligible non-resident investors for Infrastructure Debt Funds within the lock-in period” shall be omitted.

(c) In paragraph 1B, in clause (i), the words “lock-in period and” and “provided that aforementioned investors may trade such bonds / units amongst the eligible non-resident investors for Infrastructure Debt Funds within the lock-in period” shall be omitted.

(d) In paragraph 1B, in clause (ii) for the words “dated Government securities subject to the terms and conditions as stipulated by the SEBI and Reserve Bank from time to time..

(e) In paragraph 1B, after clause (ii) a new clause (iii) shall be added.

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