Foreign exchange regulation extends to overseas controlled entities and specified extraterritorial contraventions while facilitating external trade and payments. Foreign Exchange Management Act, 1999 regulates foreign exchange to facilitate external trade and payments and promote the orderly development and ... Summary
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Foreign exchange regulation extends to overseas controlled entities and specified extraterritorial contraventions while facilitating external trade and payments.
Foreign Exchange Management Act, 1999 regulates foreign exchange to facilitate external trade and payments and promote the orderly development and maintenance of India's foreign exchange market. It extends throughout India and may commence on separately appointed dates for different provisions. Its application also covers branches, offices and agencies outside India owned or controlled by a person resident in India, and contraventions committed outside India by persons subject to its provisions.
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