Authorisation requirements under FEMA govern fresh applications, continuing operations, and time-bound submission of additional documents. No person may act as an authorised person under FEMA without first obtaining authorisation from the Reserve Bank. Persons already functioning as authorised persons when the regulations came into force may continue until expiry of their existing authorisation, subject to the terms of that authorisation, these regulations, and directions issued by the Reserve Bank from time to time. Fresh authorisation applications are to be made through the PRAVAAH portal and processed in the specified categories, with additional information and FFMC applications governed by time-bound submission requirements.
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Provisions expressly mentioned in the judgment/order text.
Authorisation requirements under FEMA govern fresh applications, continuing operations, and time-bound submission of additional documents.
No person may act as an authorised person under FEMA without first obtaining authorisation from the Reserve Bank. Persons already functioning as authorised persons when the regulations came into force may continue until expiry of their existing authorisation, subject to the terms of that authorisation, these regulations, and directions issued by the Reserve Bank from time to time. Fresh authorisation applications are to be made through the PRAVAAH portal and processed in the specified categories, with additional information and FFMC applications governed by time-bound submission requirements.
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