Foreign Exchange Management Act, 1999
(Act no 42 of 1999)
| Contents |
| Sections |
Particulars |
| 1 |
Short title, extent, application and commencement |
| 2 |
Definitions |
| 3 |
Dealing in foreign
exchange, etc. |
| 4 |
Holding of foreign
exchange, etc. |
| 5 |
Current account
transactions |
| 6 |
Capital account
transactions |
| 7 |
Export of goods and
services |
| 8 |
Realization and repatriation of foreign exchange |
| 9 |
Exemption from
realization and repatriation in certain cases |
| 10 |
Authorised person |
| 11 |
Reserve Bank's powers to issue directions to authorized person |
| 12 |
Power of Reserve Bank
to inspect authorized person |
| 13 |
Penalties |
| 14 |
Enforcement of the orders of adjudicating authority |
| 15 |
Power to compound
contravention |
| 16 |
Appointment of
Adjudicating Authority |
| 17 |
Appeal to Special
Director (Appeals) |
| 18 |
Establishment of
Appellate Tribunal |
| 19 |
Appeal to Appellate
Tribunal |
| 20 |
Composition of
Appellate Tribunal |
| 21 |
Qualifications for
appointment of Chairperson, member and Special Director (Appeals) |
| 22 |
Term of office |
| 23 |
Terms and Conditions of service |
| 24 |
Vacancies |
| 25 |
Resignation and
removal |
| 26 |
Member to act as
Chairperson in certain circumstances |
| 27 |
Staff of Appellate
Tribunal & Special Director ( Appeals ) |
| 28 |
Procedure and powers
of Appellate Tribunal & Special Director (Appeals) |
| 29 |
Distribution of
business amongst Benches |
| 30 |
Power of Chairperson
to transfer cases |
| 31 |
Decision to be by
majority |
| 32 |
Right of appellant to
take assistance of legal practitioner or Chartered Accountant and of Government, to appoint presenting officers |
| 33 |
Members, etc., to be
public servants |
| 34 |
Civil court not to
have jurisdiction |
| 35 |
Appeal to High Court |
| 36 |
Directorate of
Enforcement |
| 37 |
Power of search, seizure, etc. |
| 38 |
Empowering other
officers |
| 39 |
Presumption as to
documents in certain cases |
| 40 |
Suspension of operation of this Act |
| 41 |
Power of Central Government to give directions |
| 42 |
Contravention by
companies |
| 43 |
Death or insolvency in certain cases |
| 44 |
Bar of legal
proceedings |
| 45 |
Removal of
difficulties |
| 46 |
Power to make rules |
| 47 |
Power to make
regulations |
| 48 |
Rules and regulations to be laid before Parliament |
| 49 |
Repeal and saving |
[42 of 1999]
An Act to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India
BE it enacted by Parliament in the Fiftieth Year of the Republic of India as follows:-
