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Foreign Exchange Management (Non-debt Instruments) (Fourth Amendment) Rules, 2021- (Ministry of Finance ) (12 Oct 2021)

MANU/EAFF/0040/2021

Commercial

In exercise of the powers conferred by clauses (aa) and (ab) of sub-section (2) of section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Central Government hereby makes the following rules further to amend the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, namely:-

1. (1) These rules may be called the Foreign Exchange Management (Non-debt Instruments) (Fourth Amendment) Rules, 2021.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, in Schedule I, in the Table, -

(i) against Sl. No. 14.1, -

(a) in column (2), under the heading "Sector/Activity", for the entry, the following entry shall be substituted, namely:-

"All telecom services including Telecom Infrastructure Providers Category-I, viz. Basic, Cellular, United Access Services, Unified license (Access services), Unified License, National/International Long Distance, Commercial V-Sat, Public Mobile Radio Trunked Services (PMRTS), Global Mobile Personal Communications Services (GMPCS), all types of ISP licenses, Voice Mail/Audiotex/UMS, Resale of IPLC, Mobile Number Portability services, Infrastructure Provider Category-I (providing dark fibre, right of way, duct space, tower), Other Service Providers and such other services as may be permitted by the Department of Telecommunications (DoT).";

(b) in column (4), under the heading "Entry Route", for the entry, the following entry shall be substituted, namely: -

"Automatic";

(ii) against Sl. No. 14.2, in column (2), under the sub-heading "Other conditions", for the entry, the following entry shall be substituted, namely: -

"The licensing, security and any other terms and conditions as notified by Department of Telecommunications (DoT) from time to time, shall be observed by licensee/entities providing services as referred in serial number 14.1 above as well as investors."

Tags : RULES   AMENDMENT   FOREIGN EXCHANGE  

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