Removal of a Schedule provision under current account rules eliminates a prohibited current account transaction category under FEMA. The amendment effects a targeted regulatory change by omitting item number 16 from Schedule III of the Foreign Exchange Management (Current Account Transactions) Rules, 2000, thereby removing that specified schedule entry from the regulatory framework for current account transactions; the change is made under statutory powers in consultation with the central bank and comes into force on publication in the Official Gazette.
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.
Removal of a Schedule provision under current account rules eliminates a prohibited current account transaction category under FEMA.
The amendment effects a targeted regulatory change by omitting item number 16 from Schedule III of the Foreign Exchange Management (Current Account Transactions) Rules, 2000, thereby removing that specified schedule entry from the regulatory framework for current account transactions; the change is made under statutory powers in consultation with the central bank and comes into force on publication in the Official Gazette.
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