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[Cites 0, Cited by 0] [Section 5(1)] [Section 5] [Entire Act]

Union of India - Subsection

Section 5(1)(h) in The Foreign Exchange Management [Withdrawal Of General Permission To Overseas Corporate Bodies (Ocbs)] Regulations, 2003

(h)any loan or other facility granted against the security of a Recurring/Fixed Deposit Account held in the name of an OCB, shall not be renewed and shall be closed by adjustment of the proceeds on maturity of the deposit.