Survival of foreign exchange liabilities ensures proceedings continue after death or insolvency, subject to inheritance-limited representative liability. Death or insolvency does not abate rights, obligations, liabilities, proceedings or appeals arising in relation to contraventions under section 13 of the ... Summary
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Survival of foreign exchange liabilities ensures proceedings continue after death or insolvency, subject to inheritance-limited representative liability.
Death or insolvency does not abate rights, obligations, liabilities, proceedings or appeals arising in relation to contraventions under section 13 of the Foreign Exchange Management Act, 1999. These rights and obligations devolve upon the legal representative, official receiver or official assignee, as applicable. A deceased person's legal representative is liable only to the extent of the inheritance or estate received.
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