Reserve Bank directions on foreign exchange compliance can mandate acts and information and attract administrative penalties. Reserve Bank may issue binding directions to authorised persons governing payments and acts relating to foreign exchange and foreign security to secure compliance; it may require authorised persons to furnish information in prescribed manner; contravention or failure to file returns may attract administrative penalties imposed after opportunity to be heard, including recurring penalties for continuing contraventions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reserve Bank directions on foreign exchange compliance can mandate acts and information and attract administrative penalties.
Reserve Bank may issue binding directions to authorised persons governing payments and acts relating to foreign exchange and foreign security to secure compliance; it may require authorised persons to furnish information in prescribed manner; contravention or failure to file returns may attract administrative penalties imposed after opportunity to be heard, including recurring penalties for continuing contraventions.
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