Investment by a person resident outside India in an Investment Vehicle
·
A person resident outside India including an RFPI and an NRI may invest
in units of Investment Vehicles subject to the conditions laid down in this
Schedule.
·
The payment for the units of an Investment Vehicle acquired by a person resident
or registered / incorporated outside India shall be made by an inward
remittance through the normal banking channel including by debit to an NRE or
an FCNR account.
·
A person resident outside India who has acquired or purchased units in
accordance with this Schedule may sell or transfer in any manner or redeem the
units as per regulations framed by SEBI or directions issued by RBI.
· Downstream investment
by an Investment Vehicle shall be regarded as foreign investment if neither the
Sponsor nor the Manager nor the Investment Manager is Indian 'owned and
controlled' as defined in Regulation 14 of the principal Regulations. [“Nor” to be replaced by “and” (Major
Drafting error)]
Source:
Notification NO.FEMA.355/2015-RB]/GSR 858(E), DATED 16-11-2015
0 comments:
Post a Comment