{"id":220940,"date":"2019-10-17T14:30:45","date_gmt":"2019-10-17T09:00:45","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=220940"},"modified":"2019-10-17T11:36:04","modified_gmt":"2019-10-17T06:06:04","slug":"centre-notifies-debt-and-non-debt-instruments-under-s-6-of-foreign-exchange-management-act","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/17\/centre-notifies-debt-and-non-debt-instruments-under-s-6-of-foreign-exchange-management-act\/","title":{"rendered":"Centre notifies Debt and Non-Debt instruments under S. 6 of Foreign Exchange Management Act"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>S.O. 3722(E)\u2014<\/strong>In exercise of the powers conferred by sub-section (7) of Section 6 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Central Government hereby determines the <strong>following instruments as debt instruments, namely:\u2014<\/strong><\/p>\n<p style=\"text-align: justify;\">(i) Government bonds;<br \/>\n(ii) corporate bonds;<br \/>\n(iii) all tranches of securitisation structure which are not equity tranche;<br \/>\n(iv) borrowings by Indian firms through loans;<br \/>\n(v) depository receipts whose underlying securities are debt securities.<\/p>\n<p style=\"text-align: justify;\"><strong>2. Instruments specified below shall be considered as non-debt instruments, namely:-<\/strong><\/p>\n<p style=\"text-align: justify;\">(i) all investments in equity in incorporated entities (public, private, listed and unlisted);<br \/>\n(ii) capital participation in Limited Liability Partnerships (LLPs);<br \/>\n(iii) all instruments of investment as recognised in the FDI policy as notified from time to time;<br \/>\n(iv) investment in units of Alternative Investment Funds (AIFs) and Real Estate Investment Trust (REITs) and Infrastructure Investment Trusts (InVITs);<br \/>\n(v) investment in units of mutual funds and Exchange-Traded Fund (ETFs) which invest more than fifty per cent in equity;<br \/>\n(vi) the junior-most layer (i.e. equity tranche) of securitisation structure;<br \/>\n(vii) acquisition, sale or dealing directly in immovable property;<br \/>\n(viii) contribution to trusts;<br \/>\n(ix) depository receipts issued against equity instruments.<\/p>\n<p style=\"text-align: justify;\">3. All other instruments which are not specified in paragraphs (1) and (2) above, shall be deemed as debt instruments.<\/p>\n<hr \/>\n<p><strong>Ministry of Finance<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Notification dt. 16-10-2019]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.O. 3722(E)\u2014In exercise of the powers conferred by sub-section (7) of Section 6 of the Foreign Exchange Management Act, 1999 (42 of <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[37958,37959],"class_list":["post-220940","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-notifications","tag-debt-instruments","tag-non-debt-instruments"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin 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