Consultation requirement removal: deletes 'in consultation with the Reserve Bank' from section seven provisions of the Act. The Finance Act, 2018 deletes the words "in consultation with the Reserve Bank" from section 7 of the principal Act, specifically excising that phrase ... Summary
Consultation requirement removal: deletes 'in consultation with the Reserve Bank' from section seven provisions of the Act.
The Finance Act, 2018 deletes the words "in consultation with the Reserve Bank" from section 7 of the principal Act, specifically excising that phrase from sub-sections (1), (3) and (4), thereby altering the text of the operative provision and removing the explicit statutory obligation to consult the Reserve Bank in those subsections.
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