Capital account transaction regulation expanded to cover debt instruments and cross-border currency movement, preserving prior RBI rules until government action. The amendment links permissible classes of capital account transactions involving debt instruments to the section 6 framework, including limits on admissibility of foreign exchange and prohibition, restriction or regulation; it adds export, import or holding of currency or currency notes as regulated capital account matters and preserves pre-notification Reserve Bank regulations until amended or rescinded by the Central Government.
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Provisions expressly mentioned in the judgment/order text.
Capital account transaction regulation expanded to cover debt instruments and cross-border currency movement, preserving prior RBI rules until government action.
The amendment links permissible classes of capital account transactions involving debt instruments to the section 6 framework, including limits on admissibility of foreign exchange and prohibition, restriction or regulation; it adds export, import or holding of currency or currency notes as regulated capital account matters and preserves pre-notification Reserve Bank regulations until amended or rescinded by the Central Government.
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