Amendment of Act 42 of 1999. - THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999.

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....n 2,- (i) for clause (b), the following clause shall be substituted, namely:- '(b) "Appellate Tribunal" means the Appellate Tribunal referred to in section 18;'; (ii) in clause (zc), for the word and figures "section 18", the word and figures "section 17" shall be substituted; (b) for section 18, the following section shall be substituted, namely:- Appellate Trib....

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....has held a post in Grade I of that Service; or (b) has been a member of the Indian Revenue Service and has held a post equivalent to a Joint Secretary to the Government of India."; (e) section 22 shall be omitted; (f) for section 23, the following section shall be substituted, namely:- Terms and conditions of service of Special Director (Appeals). "23. The sa....

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....ector (Appeals) shall be such as may be prescribed."; (i) sections 29, 30 and 31 shall be omitted; (j) in section 32,- (i) for the words and brackets "Appellate Tribunal or the Special Director (Appeals), as the case may be", at both the places where they occur, the words and brackets "Special Director (Appeals)" shall be substituted; (ii) in sub-section (1), for the words ....