Foreign Exchange Management (Transfer or Issue of
Security by a Person Resident outside India)
(Amendment) Regulations, 2001
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Amendment of Schedule 3 -3. In Schedule 3 to the Principal Regulations, -
- in the Heading, for the words "NRI/OCB", the word "NRI" shall be substituted;
- in paragraph 1,
- for the words "NRI/OCB", "NRI or OCB", and "NRIs or OCBs" wherever they occur, the words "NRI", "NRI" and "NRIs" respectively shall be substituted;
- the words "or an Overseas Corporate Body (OCB)" shall be omitted;
- in sub-paragraph (i), for the words "his/its", the word "his" shall be substituted;
- sub-paragraph (vii) shall be omitted;
- for paragraph 2, the following paragraph shall be substituted,namely :-
"The link office of the designated branch of an authorised dealer referred to in paragraph 1 shall furnish to the Chief General Manager, RBI, ECD, Central Office, Mumbai, a report on daily basis on PIS transactions undertaken by it, such report to be furnished on line or on floppy or in hard copy in a format supplied by Reserve Bank".
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