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of <h1>FERA repealed; Appellate Board dissolved with no compensation. Pending appeals move to new Tribunal or High Court.</h1> The Foreign Exchange Regulation Act, 1973 (FERA) has been repealed, leading to the dissolution of its Appellate Board. Members of this board are not entitled to compensation for the premature termination of their terms. Offences under FERA remain governed by its provisions unless otherwise specified, with no new cases being initiated two years post-repeal. Actions taken under FERA remain valid if consistent with the new Act. Appeals pending under FERA are transferred to the new Appellate Tribunal or must be filed in the High Court within 60 days. Section 6 of the General Clauses Act, 1897, ensures that the repeal does not affect existing rights or liabilities.
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