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  RESERVE BANK OF INDIA (FINANCIAL MARKETS REGULATION DEPARTMENT)  (CENTRAL OFFICE) NOTIFICATION Mumbai, the 18th April, 2019 No. FEMA 20(R) (4) / 2019-RB Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Third Amendment) Regulations, 2019 G.S.R. 312(E).—In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendment to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017 (Notification No. FEMA. 20 (R)/2017-RB dated November 07, 2017) (hereinafter referred to as ^the Principal Regulation^), namely:- 1.           Shoort title and commencement (i)          These Regulations shall be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Third Amendment) Regulations, 2019. (ii)         They shall come into force with effect from the date of their publication in the Official Gazette.   (iii)   After clause (xlvi) of regulation 2, the following shall be added, namely; “(xlvii) ‘Municipal Bonds’ mean debt instruments issued by municipalities constituted under Article 243Q of the Constitution of India.” (iv)   The existing clause (xlvii) of regulation 2 shall now become (xlviii). 2.           Amendment to Schedule 5 (i)          In Para 1 sub – section A of Schedule 5 (Purchase and sale of securities other than capital instruments by a person resident outside India) of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017, after the existing clause (l), the following shall be added, namely; “(m) Municipal bonds.”     [F. No. 1/22/EM/2016 (FMS-300314135)] T. RABI SANKAR, Chief General Manager     Foot Note:- The Principal Regulation was published in the Official Gazette vide G.S.R.No.1374(E) dated November 07, 2017 in Part II, Section 3, sub-Section (i) and subsequently amended as under G.S.R.No.279(E) dated 26.03.2018, G.S.R.No.520(E) dated 01.06.2018, G.S.R. No.823(E) dated 30.8.2018, G.S.R. No. 78 (E) dated 31.01.2019 and G.S.R. No.164(E) dated 27.2.2019