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of <h1>Foreign Exchange Management Act Clarifies Key Financial Terms, Defining Scope of Currency, Trade, and Residency Regulations</h1> The text provides comprehensive definitions for key terms in the Foreign Exchange Management Act (FEMA), 1999. It defines various terms related to foreign exchange, including 'authorized person', 'currency', 'export', 'import', 'person resident in India', and 'repatriate to India'. The definitions cover a wide range of financial and legal concepts, establishing the scope and interpretation of terms used throughout the Act, with detailed explanations of different types of transactions, entities, and financial instruments.
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