FOREIGN EXCHANGE MANAGEMENT ACT, 1999

 

SECTION      

PRELIMINARY

 

1.         Short title, extent, application and commencement

2.         Definitions

                       

REGULATION AND MANAGEMENT OF FOREIGN EXCHANGE

 

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.         Realisation and repatriation of foreign exchange

9.         Exemption from realisation and repatriation in certain cases

                       

AUTHORISED PERSON

 

10.        Authorised person

11.        Reserve Bank's powers to issue directions to authorised person

12.        Power of Reserve Bank to inspect authorised person

 

CONTRAVENTION AND PENALTIES

 

13.        Penalties

14.        Enforcement of the orders of Adjudicating Authority

15.        Power to compound contravention

 

ADJUDICATION AND APPEAL

 

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 and Special Director (Appeals)

28.        Procedure and powers of Appellate Tribunal and 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

 

DIRECTORATE OF ENFORCEMENT

 

36.        Directorate of Enforcement

37.        Power of search, seizure, etc.

38.        Empowering other officers

 

MISCELLANEOUS

 

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