MANU/RFEM/0001/2000
Department / Board :RBI-Exchange Control Department
Notification No :FEMA 1/2000
Date :
03.05.2000
Foreign Exchange Management (Permissible Capital Account Transactions)
Regulations, 2000".
In exercise of the powers conferred by sub-section (2) of Section 6,
sub-section (2) of Section 47 of the Foreign Exchange Management Act 1999 (42 of
1999), the Reserve Bank of India makes, in consultation with the Central
Government, following regulations relating to capital account transactions,
namely :
1. Short title and commencement :-
(i) These Regulations may be called the "Foreign Exchange Management
(Permissible Capital Account Transactions) Regulations, 2000".
(ii) They shall come into force on the 1st day of June, 2000.
2. Definitions :-
In these Regulations, unless the context requires otherwise, -
(a) 'Act' means, the Foreign Exchange Management Act, 1999 (42 of 1999);
(b) "Drawal " means drawal of foreign exchange from an authorised
person and includes opening of Letter of Credit or use of International Credit
Card or International Debit Card or ATM card or any other thing by whatever name
called which has the effect of creating foreign exchange liability.
(c) 'Schedule' means a schedule to these Regulations;
(d) 'Transferable Development Rights' means certificates issued in respect of
category of land acquired for public purpose either by Central or State
Government in consideration of surrender of land by the owner without monetary
compensation, which are transferable in part or whole;
(e) The words and expressions used but not defined in these Regulations shall
have the same meanings respectively assigned to them in the Act.
3. Permissible Capital Account Transactions :-