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of <h1>Rules Empower Central Government to Regulate Foreign Exchange Transactions, Implement Comprehensive Guidelines Under FEMA</h1> Section 46 of the Foreign Exchange Management Act, 1999 empowers the Central Government to make rules for implementing the Act. The provision allows rule-making on various matters including restrictions on current account transactions, debt instruments, capital account transactions, compounding of contraventions, inquiry procedures, appeals, salaries of officials, and authentication of documents. The rules can cover any matter required to be prescribed under the Act.
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