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[Cites 0, Cited by 1] [Section 29(4)] [Section 29] [Entire Act]

Union of India - Subsection

Section 29(4)(a) in The Foreign Exchange Regulation Act, 1973

(a)Where at the commencement of this Act any person or company (including its branch) referred to in sub-section (1) holds any shares in India of any company referred to in clause (b) of that sub-section, then, such person or company (including its branch) shall not be entitled to continue to hold such shares unless before the expiry of a period of six months from such commencement or such further period as the Reserve Bank may allow in this behalf such person or company (including its branch) has made an application to the Reserve Bank in such form and containing such particulars as may be specified by the Reserve Bank for permission to continue to hold such shares.