Fcra law query

The below said notification is available in The Gazette of India regarding AMENDMENT TO THE FOREIGN CONTRIBUTION (REGULATION) ACT, 2010

but the same notification is not reflecting in FCRA site so clear the doubt.

AMENDMENT TO THE FOREIGN CONTRIBUTION (REGULATION) ACT, 2010

In the Foreign Contribution (Regulation) Act, 2010, in section 2, in sub-section (1),

in clause (j), in sub-clause (vi), the following proviso shall be inserted and shall be deemed

to have been inserted with effect from the 26th September, 2010, namely:—

“Provided that where the nominal value of share capital is within the limits

specified for foreign investment under the Foreign Exchange Management Act, 1999,

or the rules or regulations made thereunder, then, notwithstanding the nominal value

of share capital of a company being more than one-half of such value at the time of

making the contribution, such company shall not be a foreign source;”.

Before this notification we used to consider that if a company has more than 50% foreign shareholding comes under FCRA law, which is changed as per the above notification.

We need some clarity on the issue regarding FCRA Law. For that some of the examples are given below:-

1. In case of Ericsson India Pvt. Ltd. the foreign shareholding was more 50% so that in case we used to treat it as foreign company which is changed now.

1. In other case of Australia and New Zealand Banking Group Ltd., this is a foreign company but incorporated in India. So does it comes under FCRA Law?

So I your opinion and confirmation that how to assess whether a company comes under FCRA?