Acts › The Foreign Exchange Management Act, 1999The Foreign Exchange Management Act, 1999 52 sections.
Open in Lexace · Ask the AI Section 1 — Short title, extent, application and commencement. Section 2 — Definitions. 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. 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. Section 13 — Penalties. Section 14 — Enforcement of the orders of Adjudicating Authority. Section 14A — Power of recover arrears of penalty. Section 15 — Power to compound contravention. Section 16 — Appointment of Adjudicating Authority. Section 17 — Appeal to Special Director (Appeals). Section 18 — Appellate Tribunal. Section 19 — Appeal to Appellate Tribunal. Section 20 — Omitted. Section 21 — Qualifications, for appointment of Special Director (Appeals). Section 22 — Omitted. Section 23 — Terms and Conditions of service Special Director (Appeals). Section 24 — Omitted. Section 25 — Omitted. Section 26 — Member to act as Chairperson in certain circumstances. Section 27 — Staff of Special Director (Appeals). Section 28 — Procedure and powers of Appellate Tribunal and Special Director (Appeals). Section 29 — Omitted. Section 30 — Omitted. Section 31 — Omitted. Section 32 — Right of appellant to take assistance of legal practitioner or chartered accountant and of Government, to appoint presenting officers. Section 33 — Members, etc., to be public servants. Section 34 — Civil court not to have jurisdiction. Section 35 — Appeal to High Court. Section 36 — Directorate of Enforcement. Section 37 — Power of search, seizure, etc. Section 37A — Special provisions relating to assets held outside India in contravention of section 4 Section 38 — Empowering other officers. Section 39 — Presumption as to documents in certain cases. Section 40 — Suspension of operation of this Act 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 44A — Powers of Reserve Bank not to apply to International Financial Services Centre 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. Lexace India is a legal-information & technology platform — not a law firm. It does not advertise, solicit work, or provide legal advice, and no advocate–client relationship is created. Bare-act text for general information; verify against the official source.