Heres the full foreign exchange regulation act 1976. Now therefore i, the governorgeneral, acting with the advice of the executive council, hereby make the following regulation under the banking act 19591973. Foreign exchange regulation act latest breaking news, pictures, videos, and special reports from the economic times. Finally the parliament has passed the foreign exchange regulation amendment act, 2015 and on september 9, 2015, the gazette has been published. The form of introductory words used to make statutory rules 1960 no. Contributions made by a citizen of india living in another country, from his personal savings, through the normal banking channels, is not treated as foreign contribution. This was later replaced with the foreign exchange regulation act, 1973 fera, which came into effect on 1st jan. And whereas it is expedient further to amend the foreign exchange regulation act, 1947, in the manner and for the purposes hereinafter appearing. Foreign exchange regulation act amendment 2015 addition to foreign investment friendliness the increasing globalization has led to a massive growth in the number of foreign transactions in recent times. Lxxvi of 1976 the bangladesh laws revision and declaration amendment act, 1974 act no. The manual of regulations on foreign exchange transactions, hereinafter referred to as the manual, is a consolidation of all regulations governing foreign exchange transactions. The foreign exchange regulation act 1973 indian bare. To obtain an aligned printout please download the pdf or word. The foreign exchange regulation act 1947 bangladesh bank.
Foreign exchange management act, 1973 as amended by the foreign exchange regulation amendment act, 1993 46 of 1973 an act to consolidate and amend the law regulating certain payments, dealings in foreign exchange and securities, transactions indirectly affecting foreign exchange and the import and export of currency, for the conservation of the foreign exchange resources of the. Accordingly, the foreign exchange regulation act fera which formed the statutory. Foreign exchange management deposit regulations, 2000. Foreign security as defined in clause 2i of the foreign exchange regulation act, 1973. As amended by the foreign exchange regulation amendment act, 1993.
The foreign exchange regulation act, 1947 180 the foreign exchange regulation act, 1947 act no. The foreign exchange regulation act fera was legislation passed in india in 1973 that. Regulation on amendments to the foreign exchange act og 1532009 download. Vii of 1947 11 th march, 1947 an act to regulate certain payments, dealings in foreign exchange and securities and the import and export of currency and bullion. Manual of regulations on foreign exchange transactions. The foreign exchange management act derives its powers from various entries in the union list.
The foreign exchange regulation act, 1973 46 of 1973 11584 19th september, 1973 an act to consolidate and amend the law regulating certain payments, dealings in foreign exchange and securities, transactions indirectly affecting foreign exchange and the import and export of currency, for the conservation of the foreign exchange resources of the country and the proper utilisation. Introduction the foreign exchange regulation act fera. Foreign exchange regulation act, 1973 complete act bare act. Fera was enacted in september 1973 and it came in force from january 1, 1974.
Foreign exchange regulation is a form of financial regulation specifically aimed at the forex market that is decentralized and operates with no central exchange or clearing house. The foreign exchange regulation amendment act, 2003 act no. The foreign exchange regulation act 1973 indian bare acts. Fera foreign exchange regulation act was passed in 1947 which was amended in 1973. Foreign exchange regulation act 1976 india newspapers. Short title and commencement1 this act may be called the foreign exchange regulation amendment act, 1957. Foreign exchange policy and its operations in pakistan are formulated and regulated in accordance with the provisions of the foreign exchange regulation act, 1947. Due to its decentralized and global nature, the foreign exchange market has been more prone to foreign exchange fraud and has been less regulated than other financial markets. It was amended by the foreign exchange regulation amendment act 1993 and later in 2000, wa.
Schedule of the bangladesh laws revision and declaration act, 1973 act no. Bangladesh to provide for the regulation of certain payments, dealings in foreign exchange and securities and the import and export of currency and bullion. Archived from the original pdf on 9 september 2012. Lets take a look what has changed and how you might be affected. The importexport code number allotted by the director general of foreign trade under section 7 of the foreign trade development and regulation act, 1992 22 of 1992 shall be indicated on all copies of the gr or pp or vpcod forms completed and lodged by the exporter or his agent with the customs or the postal authorities and in all.
The foreign exchange regulation act 1973 in india bare acts, banking and insurance, business and corporate, constitutional, consumer laws, criminal law, energy, environmental, family and inheritance, heritage and national importance, immigration law, labor law, the foreign exchange regulation act 1973 national security, others, procedural and administration, property related. Fera emphasized strict exchange control over everything that was specified, relating to foreign exchange. The object of this act is to regulate, in the economic and financial interest of pakistan, certain payments, dealings in foreign exchange, securities, importexport of currency and bullion. Act on amendments to the foreign exchange act og 7620 download. Foreign exchange regulation act blogs, comments and archive news on. The foreign exchange regulation act fera was legislation passed in india in 1973 that imposed strict regulations on certain kinds of payments, the dealings in foreign exchange forexand securities and the transactions which had an indirect impact on the foreign exchange and the import and export of currency. Account maintained in india under the rules made under the foreign exchange regulation act, 1973. This act may be called the foreign exchange regulation act, 1973. Government initiated the process of liberalisation of indian economy in 1991. The foreign exchange regulation act, 1947 laws of bangladesh.
Indias foreign exchange control regime was governed by the foreign exchange regulation act, 1973 fera until june 2000. Latest and breaking news on foreign exchange regulation act. The foreign exchange regulation act, 1947 chancery. Foreign exchange regulation act was introduced in 1947. Explore foreign exchange regulation act profile at. Gk, general studies, optional notes for upsc, ias, banking, civil services. Whereas it is expedient in the economic and financial interests of pakistan to provide for the regulation of certain payments, dealings in. The foreign exchange regulation act 1947 indian bare. Tuesday may 10, 2016 aththulatha shaban 03, 1437 mangalavara vaisakha 20, 1938, at 04. Application of 1section 360 of the code of criminal procedure, 1973, and of the probation of offenders act, 1958. Article 29 of the 1973 foreign exchange regulation act introduction in theory, indias treatment of foreign investment has always been guided by the twin goals of industrialization and.
Liii of 1974 the bangladesh laws revision and declaration act, 1973 act no. It is advisable to obtain the passport details of the concerned citizen of. The foreign exchange regulation act, 1947 vii of 1947. The foreign exchange management act, 1999 fema is an act of the parliament of india to. Foreign exchange regulation act, 1973 reserve bank of india. The object of this act is to regulate, in the economic and financial interest of pakistan, certain. Foreign contribution regulation act, 2010 it is proposed to amend foreign contribution regulation act, 2010 to insert the provision that where the nominal value of share capital is within the limits specified for foreign investment under the foreign exchange management act, 1999, or the. An act to regulate certain payments, dealings in foreign exchange and securities and the import and export of currency and bullion whereas it is expedient. Foreign exchange regulation act 1973, 43 of 1973 restriction on holding of immovable property outside india no person resident in india shall, except with the general or special permission of the reserve bank, acquire or hold or transfer or dispose of by sale, mortgage, lease, gift, settlement or otherwise, any immovable property situate. The foreign exchange regulation act 1973 in india bare acts, banking and insurance, business and corporate, constitutional, consumer laws, criminal law, energy, environmental, family and inheritance, heritage and national importance, immigration law, labor law, the foreign exchange regulation act 1973 national security, others, procedural and administration, property related, public utilities. Foreign exchange regulation act, 1947 and notifications issued there under. Authorized money changers in foreign exchange o 3b cancellation of authorization restrictions on dealing in foreign exchange. The foreign exchange regulation act 1947 in india bare acts, banking and insurance, business and corporate, constitutional, consumer laws, criminal law, energy, environmental, family and inheritance, heritage and national importance, immigration law, labor law, the foreign exchange regulation act 1947 national security, others, procedural and administration, property related. It was a legislation passed by the indian parliament in 1973 and came into force with effect from january 1, 1974.
Without prejudice to subregulation 1, deposits under nre, nro and nrsr account. The foreign exchange market, globally, experiences transactions of trillions of dollars on a daily basis. The government prepared a bill and put it up for approval in 1973 to regulate or control the use of foreign aid which arrived in india in the form of donations or charity but it did not pass as an act in the same year due to certain reasons undisclosed. Act on amendments to the foreign exchange act og 1452010 download.
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