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Section 8 - Realisation and repatriation of foreign exchange : Foreign Exchange Management Act 1999

What is Realisation and repatriation of foreign exchange? Section 8 of FEMA Act 1999

 

 

 

Section 8 of Foreign Exchange Management Act 1999 : "Realisation and repatriation of foreign exchange"

8. Save as otherwise provided in this Act, where any amount of foreign exchange is due or has accrued to any person resident in India, such person shall take all reasonable steps to realise and repatriate to India such foreign exchange within such period and in such manner as may be specified by the Reserve Bank.

FEMA ACT 1999

Section 2 - Definitions

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 13 - 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

Section 19 - Appeal to Appellate Tribunal

Section 20 - Composition of Appellate Tribunal

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