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of <h1>Government Can Suspend Foreign Exchange Management Act Provisions for Public Interest with Parliamentary Oversight and Retroactive Validation</h1> The statutory provision outlines the Central Government's power to suspend or relax provisions of the Foreign Exchange Management Act under specific circumstances. If deemed necessary in public interest, the government can suspend the Act's operation either indefinitely or for a specified period through official notification. Any suspension must be presented to Parliament for review, with potential modifications or annulment within thirty days, while preserving the validity of prior actions taken under the notification.
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