Capital account transactions: new clauses set admissibility limits and regulatory controls over foreign exchange movements. Amendments expand section 46(2) to add clauses recognizing instruments determined as debt instruments, authorising specification of permissible classes of capital account transactions with limits on admissibility of foreign exchange and powers to prohibit, restrict or regulate them, and to include the aggregate value of foreign exchange under section 37A(1); these insertions are consequential to other Bill provisions aligning the Act with amendments to the Prevention of Money Laundering framework.
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Capital account transactions: new clauses set admissibility limits and regulatory controls over foreign exchange movements.
Amendments expand section 46(2) to add clauses recognizing instruments determined as debt instruments, authorising specification of permissible classes of capital account transactions with limits on admissibility of foreign exchange and powers to prohibit, restrict or regulate them, and to include the aggregate value of foreign exchange under section 37A(1); these insertions are consequential to other Bill provisions aligning the Act with amendments to the Prevention of Money Laundering framework.
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