Section 2(b) in The Foreign Exchange Management (Transfer Or Issue Of Security By A Person Resident Outside India) Regulations, 2000
(b)With effect from 16th day of July, 2012, a person who satisfies the following criteria at the relevant time:(i)Resident in a country that is a member of FATF or a member of a group which is a member of FATF; and(ii)Resident in a country that is a signatory to IOSCO's MMoU (and referred to as Appendix A Signatories therein) or a signatory of a bilateral MoU with SEBI
