The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (i)
PUBLISHED BY AUTHORITY
No. 115] NEW DELHI, WEDNESDAY, MARCH 14, 2001/PHALGUNA 23, 1922
2 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SEC.3(I)]RESERVE BANKOFINDIA
(ForeignExchange Control Department)
(Central Office)
NOTIFICATION
Mumbai, the 16th February, 2001
G.S.R 182(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) and in partial modification of its Notification No. FEMA20/2000-RB dated 3rd May, 2(K)0 the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, as amended from time lo time, namely :-
1. (1) These Regulations may be called the Foreign Exchange Management (Transfer or Tssue of Security by a Person Resident outside India) (Amendment) Regulations. 2001.
(2) They shall come into force with immediate effect
2. In the Foreign Exchange Management (Transfer oi Issue of Security by a Person Resident outside India) Regula- tions, 2000, in Regulation 5,
(i) after sub-regulation (2), the following proviso shall be added, namely :—
"Provided that the FIT shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector",
(ii) after sub-regulation (3). the following proviso shall be added, namely :—
"Provided that the NRI/OCB shall not purchase shares or convertible debentures of an Indian company which is engaged in the pnnt media sector".
(iii) after sub-regulation (5). the following proviso shall be added, namely ••—
' 'Provided that the Foreign Venture Capi l nl Investor shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector"
[Notification No. FEMA.35/2001Y-RB1
J CAPOOR. Dy. Governor