What are the Rules regarding Holding of foreign exchange, etc? Section 4 of FEMA Act 1999
4. Save as otherwise provided in this Act, no person resident in India shall acquire, hold, own, possess or transfer any foreign exchange, foreign security or any immovable property situated outside India.
CHAPTER II
REGULATION AND MANAGEMENT OF FOREIGN EXCHANGE
Section 3 - Dealing in foreign exchange, etc
Section 4 - Holding of foreign exchange, etc
Section 5 - Current account transactions
Section 6 - Capital account transactions
Section 7 - Export of goods and services
Section 8 - Realisation and repatriation of foreign exchange
Section 9 - Exemption from realisation and repatriation in certain cases
CHAPTER III
AUTHORISED PERSON
Section 10 - Authorised person
Section 11 - Reserve Bank's powers to issue directions to authorised person
Section 12 - Power of Reserve Bank to inspect authorised person
CHAPTER IV
CONTRAVENTION AND PENALTIES
Section 14 - Enforcement of the orders of Adjudicating Authority
Section 15 - Power to compound contravention
Section 16 - Appointment of Adjudicating Authority
Section 17 - Appeal to Special Director (Appeals)
Section 18 - Establishment of Appellate Tribunal