Foreign currency possession rules consolidate regulatory authority and replace the prior notification upon official commencement. Regulation establishes the Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, issued under powers conferred by the Foreign Exchange Management Act, replacing the earlier notification and brought into force on publication in the Official Gazette to govern lawful possession and retention of foreign currency.
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Provisions expressly mentioned in the judgment/order text.
Foreign currency possession rules consolidate regulatory authority and replace the prior notification upon official commencement.
Regulation establishes the Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, issued under powers conferred by the Foreign Exchange Management Act, replacing the earlier notification and brought into force on publication in the Official Gazette to govern lawful possession and retention of foreign currency.
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