Section 2 in Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2018
2. Definitions.
- In these Regulations, unless the context otherwise requires -(a)"Act" means the Foreign Exchange Management Act, 1999 (42 of 1999);(b)An "Authorised Dealer" means a person authorised as an authorised dealer under sub- section (1) of section 10 of the Act;(c)"Non-Resident Indian (NRI)" means a person resident outside India who is a citizen of India;(d)"Overseas Citizen of India (OCI)" means a person resident outside India who is registered as an Overseas Citizen of India Cardholder under Section 7(A) of the Citizenship Act, 1955;(e)"Repatriation outside India" means the buying or drawing of foreign exchange from an authorised dealer in India and remitting it outside India through banking channels or crediting it to an account denominated in foreign currency or to an account in Indian currency maintained with an authorised dealer from which it can be converted in foreign currency;(f)The words and expressions used but not defined in these Regulations shall have the same meanings respectively assigned to them in the Act.
