LLPs receiving Foreign Direct Investment shall submit Annual return on foreign liabilities and assets

By | October 7, 2015

FEMA (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) (SEVENTH AMENDMENT) REGULATIONS, 2015 – AMENDMENT IN SCHEDULE 9

NOTIFICATION [NO.FEMA.351/2015-RB]/GSR 745(E), DATED 30-9-2015

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:—

Short Title & Commencement

1. (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.

Amendment to Schedule 9

2. 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”

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