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<h1>Legal Framework Transfers Appellate Tribunal Powers from SAFEMA to FEMA, Ensuring Continuous Jurisdiction and Procedural Consistency</h1> The statutory provision establishes an existing Appellate Tribunal under the Foreign Exchange Management Act (FEMA), which was previously constituted under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act. The tribunal will exercise jurisdiction, powers, and authority conferred by FEMA, effective from the commencement of the specified Finance Act provisions. This provision ensures continuity and legal framework for appellate proceedings related to foreign exchange matters.