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of <h1>Central Government Authorized Under Section 46 of FEMA Act, 1999 to Enforce Rules and Regulate Financial Transactions</h1> The Central Government is empowered under Section 46 of the FEMA Act, 1999, to create rules via notification to implement the Act's provisions. These rules may include imposing restrictions on current account transactions, defining debt instruments, and regulating capital account transactions. They also cover the compounding of contraventions, inquiry procedures by the Adjudicating Authority, appeal processes, and the terms of service for the Special Director (Appeals) and their office staff. Additionally, they outline the powers of civil courts for the Appellate Tribunal, authentication of documents, and other prescribed matters.
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