Section 5(ia) in The Foreign Exchange Management (Establishment In India Of Branch Or Office Or Other Place Of Business) Regulations, 2000
(ia)[ A person resident outside India pennitted by the Reserve Bank under this regulation to establish a liaison office in India, may apply to the authorised dealer concerned for, extension of the validity period of approval, and upon receipt of such an application, the authorised dealer concerned may extend the validity period of approval subject to such directions issued by the Reserve Bank in this regard, from time to time.] [ Inserted by G.S.R. 200(E), dated 19.1.2011 (w.r.e.f. 1.2.2010) @ It is clarified that no person will be adversely affected as a result of retrospective effect being given to these regnlations.]
