Section 2 in Foreign Exchange Management (Debt Instruments) Regulations, 2019
2. Definitions.
- In these Regulations, unless the context otherwise requires,:-(a)"Act" means the Foreign Exchange Management Act, 1999 (42 of 1999);(b)"asset reconstruction company" means a company registered with the Reserve Bank under section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002);(c)"authorised dealer" includes a person authorised under sub-section (1) of section 10 of the Act;(d)"debt instruments" means the instruments listed under Schedule 1 of the regulations;(e)"foreign central bank" means an institution or organisation or body corporate established in a country outside India and entrusted with the responsibility of carrying out central bank functions under the law for the time being in force in that country;(f)"FCNR (B) account" means a Foreign Currency Non-Resident (Bank) account maintained in accordance with the Foreign Exchange Management (Deposit) Regulations, 2016;(g)"FPI" or "Foreign Portfolio Investor" means a person registered in accordance with the provisions of the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014;(h)"Indian company" means a company incorporated in India;(i)"Indian entity" shall mean an Indian company or a LLP ;(j)"investment" means to subscribe, acquire, hold or transfer any debt instrument or unit issued by a person resident in India;(k)"investment on repatriation basis" means an investment, sale or maturity proceeds of which are net of taxes, eligible to be repatriated out of India, and the expression "investment on non-repatriation basis", shall be construed accordingly;(l)"mutual fund" means an entity governed by the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996;(m)"LLP" means a limited liability partnership formed and registered under the Limited Liability Partnership Act, 2008 (6 of 2009);(n)"listed Indian company" means an Indian company which has any of its equity instruments or debt instruments listed on a recognised stock exchange in India and the expression "unlisted Indian company" shall be construed accordingly;(o)"municipal bonds" mean debt instruments issued by municipalities constituted under Article 243Q of the Constitution of India;(p)"NRI" or "Non-Resident Indian" means an individual resident outside India who is a citizen of India;(q)"OCI" or "Overseas Citizen of India" means an individual resident outside India who is registered as an Overseas Citizen of India Cardholder under section 7(A) of the Citizenship Act, 1955 ( 57 of 1955);(r)"unit" means a beneficial interest of an investor in a mutual fund;(s)"venture capital fund" means a fund established in the form of a trust, a company including a body corporate and registered under the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.(2)The words and expressions used but not defined in these regulations shall have the same meanings respectively assigned to them in the Act, rules and regulations.
