FEMA regulatory rationalisation through withdrawal of obsolete circulars and continued notice obligations for authorised persons. The Reserve Bank has reviewed circulars issued under the Foreign Exchange Management Act, 1999 as part of its effort to rationalise the FEMA regulatory framework. Circulars issued since 1 June 2000 that have ceased to be operative because of amendments, redundancy, overlap or supersession by newer directives are being withdrawn as listed in the Annex. Authorised Persons are to bring the circular to the notice of their constituents, and the directions operate under Section 10(4) and Section 11(1) of FEMA without prejudice to other legal permissions or approvals.
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FEMA regulatory rationalisation through withdrawal of obsolete circulars and continued notice obligations for authorised persons.
The Reserve Bank has reviewed circulars issued under the Foreign Exchange Management Act, 1999 as part of its effort to rationalise the FEMA regulatory framework. Circulars issued since 1 June 2000 that have ceased to be operative because of amendments, redundancy, overlap or supersession by newer directives are being withdrawn as listed in the Annex. Authorised Persons are to bring the circular to the notice of their constituents, and the directions operate under Section 10(4) and Section 11(1) of FEMA without prejudice to other legal permissions or approvals.
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