Rulemaking power under FEMA enables central government to prescribe rules regulating foreign exchange and account transactions.

Section 46 grants the Central Government power to make rules by notification to implement the foreign exchange regulatory framework, including imposing restrictions on current account transactions, determining debt instruments, specifying permissible capital account transactions and their limits, and regulating compounding, adjudication, appeals, service conditions for appellate officers, civil court powers of appellate bodies, aggregation of foreign exchange values, and authentication of documents.

---

---

---