Compounding thresholds for foreign exchange contraventions set; applications require prescribed form, fee and supervisory approval.

Specified officers of the Directorate of Enforcement may compound contraventions of clause (a) of section 3 of the Act according to graduated monetary thresholds, subject to the direction, control and supervision of the Director of Enforcement. A contravention is not compoundable within three years of a prior compounded contravention; a subsequent contravention after that period is treated as a first contravention. Applications must be made in the prescribed form to the Director, Directorate of Enforcement, New Delhi, with a prescribed fee payable by authorised modes.

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