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Section 46 - Power to make rules : Foreign Exchange Management Act 1999

 

 

What is the Power to make rules? Section 46 of FEMA Act 1999

Section 46 of Foreign Exchange Management Act 1999 : "Power to make rules"

46. (1) The Central Government may, by notification, make rules to carry out the provisions of this Act.

(2) Without prejudice to the generality of the foregoing power, such rules may provide for,-

(a) the imposition of reasonable restrictions on current account transactions under section 5;

(b) the manner in which the contravention may be compounded under sub-section (1) of section 15;

(c) the manner of holding an inquiry by the Adjudicating Authority under sub-section (1) of section 16;

(d) the form of appeal and fee for filing such appeal under sections 17 and 19;

(e) the salary and allowances payable to and the other terms and conditions of service of the Chairperson and other Members of the Appellate Tribunal and the Special Director (Appeals) under section 23;

(f) the salaries and allowances and other conditions of service of the officers and employees of the Appellate Tribunal and the office of the Special Director (Appeals) under sub-section (3) of section 27;

 

(g) the additional matters in respect of which the Appellate Tribunal and the Special Director (Appeals) may exercise the powers of a civil court under clause (i) of sub-section (2) of section 28;

(h) the authority or person and the manner in which any document may be authenticated under clause (ii) of section 39; and

(i) any other matter which is required to be, or may be, prescribed.

 

FEMA ACT 1999

Section 41 - Power of Central Government to give directions

Section 42 - Contravention by companies

Section 43 - Death or insolvency in certain cases

Section 44 - Bar of legal proceedings

Section 45 - Removal of difficulties

 

 

Section 46 - Power to make rules

Section 47 - Power to make regulations

Section 48 - Rules and regulations to be laid before Parliament

Section 49 - Repeal and saving

 

 

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