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Date: 2015-09-30 Category: Extra Ordinary State: Union Government Country: India

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Seventh Amendment) Regulations, 2015.

Issued by Reserve Bank of India · Foreign Exchange Department

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Executive Summary & Key Takeaways

Executive Summary: This notification from the Reserve Bank of India amends the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000. It introduces the "Seventh Amendment Regulations, 2015," effective from the date of its publication. A key change requires LLPs with Foreign Direct Investment to submit an annual report on Foreign Liabilities and Assets to the Reserve Bank of India by July 15th each year. Key Points / Main Content: Amendment Overview: The document introduces the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Seventh Amendment Regulations, 2015. Effective Date: The regulations come into force from the date of their publication in the Official Gazette. Amendment to Schedule 9: A new clause (iv) is inserted after clause (iii) in Para 7 of Schedule 9 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000. Reporting Requirement for LLPs: All Limited Liability Partnerships (LLPs) that have received Foreign Direct Investment (FDI) in previous years, including the current year, must submit an annual report on Foreign Liabilities and Assets to the Reserve Bank of India (RBI). Report Title: The report is titled "Annual Return on Foreign Liabilities and Assets." Submission Deadline: The report must be submitted to the Reserve Bank of India on or before the 15th day of July each year. Impact Analysis: Limited Liability Partnerships (LLPs) with Foreign Direct Investment (FDI) Impact: LLPs are now required to comply with a new reporting requirement, specifically submitting an annual report on Foreign Liabilities and Assets. This adds an additional compliance burden. Action Required: LLPs must prepare and submit the "Annual Return on Foreign Liabilities and Assets" to the Reserve Bank of India by July 15th of each year. The format and specifications for this report will be as specified by the Reserve Bank from time to time.

Key Entities Referenced

Foreign Exchange Management Act, 1999: An act of the Parliament of India to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India. Reserve Bank of India: The central bank of India. Foreign Exchange Management Transfer or Issue of Security by a Person Resident outside India Regulations, 2000: Regulations pertaining to the transfer or issue of security by a person resident outside India. Mumbai, Maharashtra: City in Maharashtra, India, where the Reserve Bank of India's Central Office is located. Foreign Direct Investment: An investment made by a firm or individual in one country into business interests located in another country Annual Return on Foreign Liabilities and Assets: A report to be submitted to the Reserve Bank of India by LLPs which have received Foreign Direct Investment. Limited Liability Partnerships (LLPs): A partnership in which some or all partners have limited liabilities B. P. Kanungo: Principal Chief General Manager at Reserve Bank of India.
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ोधन करता ह,ै अथात(cid:27) :- 1111.... ससससििंंििंं!!!!"""" ननननाााामममम औऔऔऔरररर (cid:11)(cid:11)(cid:11)(cid:11)ााााररररंंभभंंभभ (i) ये िविनयम, िवदशे ी म(cid:3)ु ा (cid:5)बंध (भारत से बाहर के िनवासी (cid:31)कसी #ि(cid:17) (cid:11)ारा (cid:5)ितभिू त का अंतरण अथवा िनगम(cid:27) ) (सातवा ँ संशोधन) िविनयमावली, 2015 कहलाएगं े। (ii) वे सरकारी राजप1 म ’उनके (cid:5)काशन क(cid:10) तारीख स ेलागू ह(cid:19)गे। 4158 GI/2015 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] 2222.... अअअअननननससुुससुु चचूूचचूू ीीीी 9999 मममम (cid:2)(cid:2) (cid:2)(cid:2)ससससशशंंशशंं ोोोोधधधधनननन िवदशे ी म(cid:3)ु ा (cid:5)बंध (भारत से बाहर के िनवासी (cid:31)कसी #ि(cid:17) (cid:11)ारा (cid:5)ितभूित का अंतरण अथवा िनगम(cid:27) ) िविनयमावली, 2000 (3 मई 2000 क(cid:10) अिधसूचना स.ं फेमा. 20/2000-आरबी) म,’ अनसु ूची 9 म,’ पैरा 7 म,’ खंड (iii) के बाद िन(िलिखत खंड अंतिन5हत (cid:31)कया जाएगा:- "(iv) चाल ू(current) वष(cid:27) सिहत िपछल े वष8 म ’ (cid:5)9य: िवदशे ी िनवेश (cid:5)ा;कता (cid:27) सभी सीिमत दये ता भागीदारी फम = (LLPs) "िवदशे ी दये ताए ंऔर प(cid:24)रसंपि(cid:14)या"ँ नामक वा5षक (cid:24)रपोट(cid:27) (cid:5)ित वष (cid:27)15 जुलाई तक, जैसा(cid:31)क समय-समय पर (cid:24)रज़व(cid:27) ब(cid:28)क (cid:11)ारा िविनBदC (cid:31)कया जाए, भारतीय (cid:24)रज़व(cid:27) बक(cid:28) को (cid:5)Dतुत कर’गी"। [फा. स.ं 1/25/ईएम/2015] बी. पी. काननू गो, (cid:5)धान मEु य महा(cid:5)बंधक पपपपाााादददद %%%%टटटट’’’’पपपपणणणणीीीी::::---- मूल िविनयमावली 8 मई, 2000 के सा.का.िन. स.ं 406(अ), के ज(cid:24)रय े सरकारी राजप1 के भाग II, खंड 3, उप-खंड (i) म ’ (cid:5)कािशत और त9पFात िन(िलिखत (cid:11)ारा संशोिधत क(cid:10) गयी थी:— सा.का.िन. स.ं 158(अ), (cid:31)दनाकं 02.03.2001 सा.का.िन. सं. 29(अ), (cid:31)दनाकं 19.01.2006 सा.का.िन. सं. 175(अ), (cid:31)दनाकं 13.03.2001 सा.का.िन. सं. 413(अ), (cid:31)दनाकं 11.07.2006 सा.का.िन. सं. 182(अ), (cid:31)दनाकं 14.03.2001 सा.का.िन. सं. 712(अ), (cid:31)दनाकं 14.11.2007 सा.का.िन. सं. 4(अ), (cid:31)दनाकं 02.01.2002 सा.का.िन. सं. 713(अ), (cid:31)दनाकं 14.11.2007 सा.का.िन. सं. 574(अ), (cid:31)दनाकं 19.08.2002 सा.का.िन. सं. 737(अ), (cid:31)दनाकं 29.11.2007 सा.का.िन. सं. 223(अ), (cid:31)दनाकं 18.03.2003 सा.का.िन. सं. 575(अ), (cid:31)दनाकं 05.08.2008 सा.का.िन. सं. 225(अ), (cid:31)दनाकं 18.03.2003 सा.का.िन. सं. 896(अ), (cid:31)दनाकं 30.12.2008 सा.का.िन. सं. 558(अ), (cid:31)दनाकं 22.07.2003 सा.का.िन. सं. 851(अ), (cid:31)दनाकं 01.12.2009 सा.का.िन. सं. 835(अ), (cid:31)दनाकं 23.10.2003 सा.का.िन. सं. 341 (अ), (cid:31)दनाकं 21.04.2010 सा.का.िन. सं. 899(अ), (cid:31)दनाकं 22.11.2003 सा.का.िन. सं. 821(अ), (cid:31)दनाकं 10.11.2012 सा.का.िन. सं. 12(अ), (cid:31)दनाकं 07.01.2004 सा.का.िन. सं. 606(अ), (cid:31)दनाकं 03.08.2012 सा.का.िन. सं. 278(अ), (cid:31)दनाकं 23.04.2004 सा.का.िन. सं. 795(अ), (cid:31)दनाकं 30.10.2012 सा.का.िन. सं. 454(अ), (cid:31)दनाकं 16.07.2004 सा.का.िन. सं. 796(अ), (cid:31)दनाकं 30.10.2012 सा.का.िन. सं. 625(अ), (cid:31)दनाकं 21.09.2004 सा.का.िन. सं. 797(अ), (cid:31)दनाकं 30.10.2012 सा.का.िन. सं. 799(अ), (cid:31)दनाकं 08.12.2004 सा.का.िन. सं. 945(अ), (cid:31)दनाकं 31.12.2012 सा.का.िन. सं. 201(अ), (cid:31)दनाकं 01.04.2005 सा.का.िन. सं. 946(अ), (cid:31)दनाकं 31.12.2012 सा.का.िन. सं. 202(अ), (cid:31)दनाकं 01.04.2005 सा.का.िन. सं. 38(अ), (cid:31)दनाकं 22.01.2013 सा.का.िन. सं. 504(अ), (cid:31)दनाकं 25.07.2005 सा.का.िन. सं. 515(अ) (cid:31)दनाकं 30.07.2013 सा.का.िन. सं. 505(अ), (cid:31)दनाकं 25.07.2005 सा.का.िन. सं. 532(अ), (cid:31)दनाकं 05.08.2013 सा.का.िन. सं. 513(अ), (cid:31)दनाकं 29.07.2005 सा.का.िन. सं. 341(अ), (cid:31)दनाकं 28.05.2013 सा.का.िन. सं. 344(अ), (cid:31)दनाकं 29.05.2013 सा.का.िन. सं. 738(अ), (cid:31)दनाकं 22.12.2005¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 3 सा.का.िन. सं. 195(अ) (cid:31)दनाकं 01.04.2013 सा.का.िन. सं. 400(अ), (cid:31)दनाकं 12.06.2014 सा.का.िन. सं. 393(अ), (cid:31)दनाकं 21.06.2013 सा.का.िन. सं. 436(अ), (cid:31)दनाकं 08.07.2014 सा.का.िन. सं. 591(अ), (cid:31)दनाकं 04.09.2013 सा.का.िन. सं. 487 (अ), (cid:31)दनाकं 11.07.2014 सा.का.िन. सं. 596(अ), (cid:31)दनाकं 06.09.2013 सा.का.िन. सं. 632 (अ), (cid:31)दनाकं 02.09.2014 सा.का.िन. सं. 597(अ), (cid:31)दनाकं 06.09.2013 सा.का.िन. सं. 798 (अ), (cid:31)दनाकं 13.11.2014 सा.का.िन. सं. 681(अ), (cid:31)दनाकं 11.10.2013 सा.का.िन. सं. 799 (अ), (cid:31)दनाकं 13.11.2014 सा.का.िन. सं. 682(अ), (cid:31)दनाकं 11.10.2013 सा.का.िन. सं. 818(अ), (cid:31)दनाकं 31.12.2013 सा.का.िन. सं. 800 (अ), (cid:31)दनाकं 13.11.2014 सा.का.िन. सं. 805(अ), (cid:31)दनाकं 30.12.2013 सा.का.िन. सं. 829 (अ), (cid:31)दनाकं 21.11.2014 सा.का.िन. सं. 683(अ), (cid:31)दनाकं 11.10.2013 सा.का.िन. सं. 906 (अ), (cid:31)दनाकं 22.12.2014 सा.का.िन. सं. 189(अ), (cid:31)दनाकं 19.03.2014 सा.का.िन. सं. 914 (अ), (cid:31)दनाकं 24.12.2014 सा.का.िन. सं. 190(अ), (cid:31)दनाकं 19.03.2014 सा.का.िन. सं. 30 (अ), (cid:31)दनाकं 14.01.2015 सा.का.िन. सं. 270(अ), (cid:31)दनाकं 07.04.2014 सा.का.िन. सं. 183(अ), (cid:31)दनाकं 12.03.2015 सा.का.िन. सं. 361(अ), (cid:31)दनाकं 27.05.2014 सा.का.िन. सं. 284(अ), (cid:31)दनाकं 13.04.2015 सा.का.िन. सं. 370(अ), (cid:31)दनाकं 30.05.2014 सा.का.िन. सं. 484(अ), (cid:31)दनाकं 11.06.2015 सा.का.िन. सं. 371(अ), (cid:31)दनाकं 30.05.2014 सा.का.िन. सं. 435(अ), (cid:31)दनाकं 08.07.2014 RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 30th September, 2015 No. FEMA.351 /2015 RB Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Seventh Amendment) Regulations, 2015 G.S.R. 745(E)—In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and 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 (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA.20/2000-RB dated 3rd May 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) (Seventh Amendment) Regulations, 2015. (ii) They shall come into force from the date of their publication in the Official Gazette. 2. Amendment to Schedule 9:- In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA 20/2000-RB dated 3rd May 2000), in Schedule 9, in Para 7, after clause (iii), the following shall be inserted, namely:- “(iv) All LLPs which have received Foreign Direct Investment in the previous year(s) including the current year shall submit to the Reserve Bank of India, on or before the 15th day of July of each year, a report titled ‘Annual Return on Foreign Liabilities and Assets’ as specified by the Reserve Bank from time to time” [F. No. 1/25/EM/2015] B. P. KANUNGO, Principal Chief General Manager4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] Foot Note : The Principal Regulations were published in the Official Gazette vide G.S.R. No. 406(E), dated May 8, 2000 in Part II, Section 3, sub-Section (i) and subsequently amended as under:- G.S.R. No. 158(E), dated 02.03.2001 G.S.R. No. 945(E), dated 31.12.2012 G.S.R. No. 175(E), dated 13.03.2001 G.S.R. No. 946(E), dated 31.12.2012 G.S.R. No. 182(E), dated 14.03.2001 G.S.R. No. 38(E), dated 22.01.2013 G.S.R. No. 4(E), dated 02.01.2002 G.S.R. No. 515(E), dated 30.07.2013 G.S.R. No. 574(E), dated 19.08.2002 G.S.R. No. 532(E), dated 05.08.2013 G.S.R. No. 223(E), dated 18.03.2003 G.S.R. No. 341(E), dated 28.05.2013 G.S.R. No. 344(E), dated 29.05.2013 G.S.R. No. 225(E), dated 18.03.2003 G.S.R. No. 195(E), dated 01.04.2013 G.S.R. No. 558(E), dated 22.07.2003 G.S.R. No. 393(E), dated 21.06.2013 G.S.R. No. 835(E), dated 23.10.2003 G.S.R. No. 591(E), dated 04.09.2013 G.S.R. No. 596(E), dated 06.09.2013 G.S.R. No. 899(E), dated 22.11.2003 G.S.R. No. 597(E), dated 06.09.2013 G.S.R. No. 12(E), dated 07.01.2004 G.S.R. No. 681(E), dated 11.10.2013 G.S.R. No. 278(E), dated 23.04.2004 G.S.R. No. 682(E), dated 11.10.2013 G.S.R. No. 454(E), dated 16.07.2004 G.S.R. No. 818(E), dated 31.12.2013 G.S.R. No. 805(E), dated 30.12.2013 G.S.R. No. 625(E), dated 21.09.2004 G.S.R. No. 683(E), dated 11.10.2013 G.S.R. No. 799(E), dated 08.12.2004 G.S.R. No. 189(E), dated 19.03.2014 G.S.R. No. 201(E), dated 01.04.2005 G.S.R. No. 190(E), dated 19.03.2014 G.S.R. No. 202(E), dated 01.04.2005 G.S.R. No. 270(E), dated 07.04.2014 G.S.R. No. 504(E), dated 25.07.2005 G.S.R. No. 361(E), dated 27.05.2014 G.S.R. No. 505(E), dated 25.07.2005 G.S.R. No. 370(E), dated 30.05.2014 G.S.R. No. 513(E), dated 29.07.2005 G.S.R. No. 371(E), dated 30.05.2014 G.S.R. No. 738(E), dated 22.12.2005 G.S.R. No. 435(E), dated 08.07.2014 G.S.R. No. 29(E), dated 19.01.2006 G.S.R. No. 400(E), dated 12.06.2014 G.S.R. No. 413(E), dated 11.07.2006 G.S.R. No. 436(E), dated 08.07.2014 G.S.R. No. 712(E), dated 14.11.2007 G.S.R. No. 487(E), dated 11.07.2014 G.S.R. No. 713(E), dated 14.11.2007 G.S.R. No. 632(E), dated 02.09.2014 G.S.R. No. 737(E), dated 29.11.2007 G.S.R. No. 798(E), dated 13.11.2014 G.S.R. No. 575(E), dated 05.08.2008 G.S.R. No. 799(E), dated 13.11.2014 G.S.R. No. 896(E), dated 30.12.2008 G.S.R. No. 800(E), dated 13.11.2014 G.S.R. No. 851(E), dated 01.12.2009 G.S.R. No. 829(E), dated 21.11.2014 G.S.R. No. 341(E), dated 21.04.2010 G.S.R. No. 906(E), dated 22.12.2014 G.S.R. No. 821 (E), dated 10.11.2012 G.S.R. No. 914(E), dated 24.12.2014 G.S.R. No. 606(E), dated 03.08.2012 G.S.R. No. 30(E), dated 14.01.2015 G.S.R. No. 795(E), dated 30.10.2012 G.S.R. No. 183(E), dated 12.03.2015 G.S.R. No. 796(E), dated 30.10.2012 G.S.R. No. 284(E), dated 13.04.2015 G.S.R. No. 797(E), dated 30.10.2012 G.S.R. No. 484(E), dated 11.06.2015 Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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