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of <h1>Legal Transition: Foreign Exchange Regulation Act Repealed, Existing Offenses Preserved Under New Management Act Provisions</h1> The provision addresses the repeal of the Foreign Exchange Regulation Act, 1973, and its transition to the Foreign Exchange Management Act, 1999. It dissolves the previous Appellate Board, prevents new legal actions after two years, and ensures ongoing governance of existing offenses under the repealed Act. The section provides continuity for prior actions, transfers pending appeals, and establishes a mechanism for addressing legal proceedings and administrative actions from the previous legislative framework.
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