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This Notification has amended the Regulation 21 of Notification No. FEMA. 120/2004-RB dated July 7, 2004 (Transfer or Issue of Any Foreign Security), as under: –
Amendment of the Regulation 21 (2) (ii)
After Regulation 21 (2) (ii), the following proviso shall be inserted, namely: –
“Provided that under these Regulations, the Reserve Bank may, in consultation with the Government of India, change / prescribe for the automatic as well as the approval route of FCCBs, any provision or proviso for issuance of FCCBs”.
Amendment to the Regulation 21 (2) (iii)
After Regulation 21 (2) (iii), the following proviso shall be inserted, namely: –
“Provided that under these Regulations, the Reserve Bank may, in consultation with the Government of India, change / prescribe any provision or proviso for issuance of FCEBs”.
