https://www.taxtmi.com/acts?id=2003 The Reserve Bank may in writing authorise persons to deal in foreign exchange or securities subject to conditions and may revoke authorisation in the public interest or for noncompliance after a reasonable opportunity to be heard. Authorised persons must follow Reserve Bank directions and not transact beyond their authorisation without prior permission. Before undertaking transactions, authorised persons must obtain declarations and information to ensure transactions are not designed to contravene the Act, refuse transactions with inadequate responses, and report suspected evasion; misuse or failure to surrender foreign exchange by non authorised persons is deemed a contravention. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 29 May 2025 10:14:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2003 The Reserve Bank may in writing authorise persons to deal in foreign exchange or securities subject to conditions and may revoke authorisation in the public interest or for noncompliance after a reasonable opportunity to be heard. Authorised persons must follow Reserve Bank directions and not transact beyond their authorisation without prior permission. Before undertaking transactions, authorised persons must obtain declarations and information to ensure transactions are not designed to contravene the Act, refuse transactions with inadequate responses, and report suspected evasion; misuse or failure to surrender foreign exchange by non authorised persons is deemed a contravention. Act-Rules FEMA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2003