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Section 25 - Resignation and removal : Foreign Exchange Management Act 1999

What is the process in case of Resignation and removal? Section 25 of FEMA Act 1999




Section 25 of Foreign Exchange Management Act 1999 : "Resignation and removal"

25. (1) The Chairperson or a Member may, by notice in writing under his hand addressed to the Central Government, resign his office :

Provided that the Chairperson or a Member shall, unless he is permitted by the Central Government to relinquish his office sooner, continue to hold office until the expiry of three months from the date of receipt of such notice or until a person duly appointed as his successor enters upon his office or until the expiry of term of office, whichever is the earliest.

(2) The Chairperson or a Member shall not be removed from his office except by an order by the Central Government on the ground of proved misbehaviour or incapacity after an enquiry made by such person as the President may appoint for this purpose in which the Chairperson or a Member concerned has been informed of the charges against him and given a reasonable opportunity of being heard in respect of such charges.

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