Section 27: Restrictions on persons resident in India associating themselves with or participating in concerns out side India .-[ Omitted by the Foreign Exchange Regulation (Amendment) Act , 1993 (29 of 1993), section 14 (w.e.f.8-1-1993).]

Sec 28 — Restrictions on the appointment of certain persons and companies as agents or technical or management advisers in India .- [(1) Without prejudice to the provisions of section 47 and notwithstanding anything contained in any other provision of this Act or the Companies Act, 1956 (1 of 1956), a person resident outside India (whether a citizen of India or not) or a person who is not a citizen of India but is resident in India, or a company (other than a banking company) which is not incorporated under any law in force in India or any branch of such company, shall not, except with the general or special permission of the Reserve Bank, act, or accept appointment, as agent in India of any person or company, in the trading or commercial transactions of such person or company