Pein Amber: Chapter Iv Of Fema 1999

Chapter Iv Of Fema 1999

These legislations rules and regulations relating to foreign exchange management act 1999 can be divided in to the followings. Chapter iii authorised person section 10 to 12.

Ppt Foreign Exchange Management Act 1999 Powerpoint

5 sets of rules made by ministry under section 46 of fema.

Chapter iv of fema 1999. 11 in terms of section 131 chapter iv of fema 1999 if any person contravenes any provision of fema 1999 or any rule regulation notification direction or order issued in exercise of the powers under this act or contravenes any condition subject to which an authorization is issued by the reserve bank he shall upon adjudication be liable to a penalty up to thrice the sum involved in such contravention where the amount is quantifiable or up to rupees two lakhs where the amount is. Chapter iv contravention and penalties. Foreign exchange management act 1999 fema chapter iv chapter.

3 it shall also apply to all branches offices and agencies outside india owned or controlled by a. 23 sets of regulations made by rbi under section 47 of fema. Chapter ii regulation and management of foreign exchange section 3 to 9.

The foreign exchange management act 1999 fema consists of 49 sections divided into 7 chapters. Chapter i preliminary section 12. Fema contains 7 chapters divided into 49 sections supreme legislation 2.

2 it extends to the whole of india. 3 it shall also apply to all branches offices and agencies outside india owned or controlled. Chapter i priliminary 1.

Short title extent application and commencement 1 this act may be called the foreign exchange management act 1999. 1 this act may be called the foreign exchange management act 1999. 2 it extends to the whole of india.

11 in terms of section 131 chapter iv of fema 1999 if any person contravenes any provision of fema 1999 or any rule regulation notification direction or order issued in exercise of the powers under this act or contravenes any condition subject to which an authorization is issued by the reserve bank he shall upon adjudication be liable to a penalty up to thrice the sum. Overview of fema act 1999. Chapter i preliminary short title extent application and commencement.

5 a warrant of arrest issued by the adjudicating authority. 4 where appearance is not made pursuant to a notice issued and served under sub section 1 the adjudicating authority may issue a warrant for the arrest of the defaulter.

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