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of <h1>Foreign Exchange Control: Indian Residents Limited in Acquiring, Holding, and Transferring International Assets Under FEMA 1999</h1> The provision restricts residents of India from acquiring, holding, owning, possessing, or transferring foreign exchange, foreign securities, or immovable property located outside India, except as specifically permitted under the Foreign Exchange Management Act, 1999. This regulation aims to control and manage foreign exchange transactions by Indian residents, with potential exceptions outlined in the act.
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