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THE FOREIGN EXCHANGE REGULATION ACT, 1973<br/>Introduction • • ^<br/>Sections<br/>1. Short title, extent, application and commencement<br/>2. Definitions<br/>3. Classes of officers of Enforcement 4. Appointment and powers of officers of Enforcement Entrustment of functions of Director or other officer of Enforcement<br/>6. Authorised dealers in foreign exchange<br/>7. Money-changers<br/>8. Restrictions on dealing in foreign exchange<br/>9. Restrictions on payments<br/>10. Blocked accounts.<br/>11. [Repealed]<br/>12. [Repealed] 13. Restrictions on import and export of certain currency and bullion 14. Acquisition by Central Government of foreign exchange<br/>15. [Repealed] 16. Duty of persons entitled to receive foreign exchange, etc.<br/>17. [Repealed] 18. Payment for exported goods 18A. Payment for lease hire or other arrangement 19. Regulation of export and transfer of securities<br/>20. [Repealed]<br/>21. [Repealed]<br/>22. Restrictions on issue of bearer securities<br/>23. [Repealed]<br/>24. Restriction on settlement, etc. 25. Restriction on holding of immovable property outside India 26. Certain provisions as to guarantee in respect of debt or other obligation 27. [Repealed]<br/>28. Restrictions on the appointment of certain persons and companies as agents or technical or management advisers in India 29. Restrictions on establishment of place of business in India . 30. Prior permission of Reserve Bank required for taking up employment, etc., in India by nationals of foreign States 31. Restriction on acquisition, holding, etc., of immovable property in India<br/><br/>[Repealed] . . . 22<br/>Power to call for information . . . . 23<br/>Power to search suspected persons and to seize documents . 23<br/>Power to arrest . . / . ^ 24<br/>Power to stop and search conveyances . . . 24<br/>Power to search premises . . . 24<br/>Power to seize documents, etc. . . . 25<br/>Power to examine persons . , . . 25<br/>Power to summon persons to give evidence and produce documents. 25<br/>Custody of documents, etc. . . . 26<br/>Encashment of cheque, draft, etc. . . . 27<br/>Inspection . . . 28 Prohibition of disclosure of documents or information except in certain cases 29<br/>Power of police officer and other officers to enter, search, etc. Procedure in respect of foreign exchange or any other goods seized by police officers<br/>Contracts in evasion of the Act<br/>False statements<br/>Failure to comply with conditions subject to which permissions, or licences have been given or granted under the Act to be contravention of the provisions of the Act<br/>Penalty<br/>Power to adjudicate<br/>Appeal to Appellate Board<br/>Powers of the adjudicating officer and the Appellate Board to summon witnesses, etc.<br/>Appeal to High Court Continuance of proceeding in the event of death or insolvency Offences and prosecutions Penalty for contravention of order made by adjudicating officer. Appellate Board and High Court Vexatious search, etc., by officers of Enforcement<br/>Presumption of culpable mental state Power to tender immunity from prosecution . ,<br/>Cognizance of Offences Certain offences to be non-cognizable . , Confiscation of currency, security, etc. Preparation, attempt, etc. Correction of clerical errors, etc. Application of section 360 of the Code of Criminal Procedure 1973 and of the Probation of Offenders Act, 1958 . '<br/><br/>Application of the Customs Act, 1962 Offences by companies Power of court to publish name, place of business, etc. of companies convicted under the Act Recovery of sums due to Government Burden of proof in certain cases Presumption as to documents in certain cases Supplemental provisions Penalty for contravention of direction of<br/>Reserve Bank or for failure to file returns ' Delegation Power of Central Government to give directions Factors to^be taken into account by the Central Government and the Reserve Bank while giving or granting permissions or<br/>licences under the Act<br/>Certain officers to assist officers of Enforcement Bar of legal proceedings<br/>Power to make rules<br/>Power to remove difficulties Repeal and saving<br/><br/>THE FOREIGN EXCHANGE REGULATION<br/>RULES, 1974<br/>1. Short title and commencement . . . 47<br/>2. Definitions . .. . 47 3. Service of direction, orders or notices made or issued under the Act, or these rules or under any order or notification made thereunder. . 47 4. Indication of import-export code number . . . 47 5. Form of declarations . . . 48 6. Authority to whom declaration to be furnished . . 48 7. Evidence in support of declaration . . . 49 8. Period within which export value of goods to be realised. . . 49 9. Manner of payment of export value of goods . . 50 10. [Omitted] . . . 50 11. [Omitted] . . . 50 12. Application for permission to practise any profession or carry on any occupation, trade or business in India . . . 50 FIRST SCHEDULE.—[Omitted] . . . 50 SECOND SCHEDULE.—[Declaration under section 18 of the Foreign Exchange Regulation Act, 1973—See rule 5] . . . 50 THIRD SCHEDULE.—Manner for realisation of value of goods , exported from India . . . 60 FOURTH SCHEDULE.—[Omitted] . . . 61 FIFTH SCHEDULE.—[Omitted] . . . 61 SIXTH SCHEDULE.—Application for permission under section 30 of the Foreign Exchange Regulation Act, 1973 for practising any profession or carrying on any occupation, trade or business in India by a foreign national. . 61 SEVENTH SCHEDULE.—[Omitted] |
