Section 5(2) in The Foreign Exchange Management (Deposit) Regulations, 2000
(2)Without prejudice to sub-regulation (1), deposits under NRE, NRO and NRSR Account Schemes referred to in [clauses (i) and (iii)] [Substituted by G.S.R. 262(E), dated 1.3.2002 (w.e.f. 1.4.2002).] of that sub--regulation, may also be accepted by an authorised bank, in accordance with the provisions contained in the respective Schedules.[(2-A) Non-resident acquirers may, subject to the terms and conditions specified in Schedule 8, open, hold and maintain Escrow Account and Special Account with Authorised Dealers in India without prior approval of the Reserve Bank, for acquisition/transfer of shares/convertible debentures through open offers/delisting/exist offers, subject to the relevant Security Exchange Board of India (SAST) Regulations or any other applicable Security Exchange Board of India Regulations/provisions of the Companies Act, 1956.] [Inserted by G.S.R. 91(E), dated 18.9.2007 (w.r.e.f. 24.5.2007).]
