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        FEMA

        Section 5 - Current Account Transactions

        Foreign Exchange Management Act, 1999
        Chapter II
        REGULATION AND MANAGEMENT OF FOREIGN EXCHANGE

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        Current account transactions permit sale or drawal of foreign exchange to authorised persons, subject to government-imposed restrictions. Any person may sell or draw foreign exchange to or from an authorised person if the transaction is a current account transaction, subject to the Central Government's power, in the public interest and after consultation with the Reserve Bank, to impose reasonable restrictions on current account transactions as prescribed.
                    Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                    Provisions expressly mentioned in the judgment/order text.

                        Current account transactions permit sale or drawal of foreign exchange to authorised persons, subject to government-imposed restrictions.

                        Any person may sell or draw foreign exchange to or from an authorised person if the transaction is a current account transaction, subject to the Central Government's power, in the public interest and after consultation with the Reserve Bank, to impose reasonable restrictions on current account transactions as prescribed.


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