Treatise on FEMA Law and Practice

Edition: 4th edn. 2023

ISBN: 9789834478058

Pages: 3176

Author: Dr. Dilip K. Sheth

Volume 1Prologue Historical Background and evolution of FEMA General Principles Particular Principles THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999Preamble CHAPTER IPRELIMINARY1. Short title, extent, application and commencement 2. Definitions CHAPTER IIREGULATION AND MANAGEMENT OF FOREIGN EXCHANGE3. Dealing in Foreign Exchange, etc. 4. Holding of Foreign Exchange, etc. 5. Current Account Transactions 6. Capital Account Transactions 7. Export of Goods and Services 8. Realisation and Repatriation of Foreign Exchange 9. Exemption from realisation and repatriation in certain cases CHAPTER IIIAUTHORISED PERSON10. Authorised person 11. Reserve Bank’s powers to issue directions to authorised person12. Power of Reserve Bank to inspect authorised person CHAPTER IVCONTRAVENTION AND PENALTIES13. Penalties 14. Enforcement of the orders of Adjudicating Authority 14A. Power to recover arrears of penalty 15. Power to compound contravention CHAPTER VADJUDICATION AND APPEAL16. Appointment of Adjudicating Authority 17. Appeal to Special Director (Appeals) 18. Appellate Tribunal 19. Appeal to Appellate Tribunal 20. [Omitted] 21. Qualifications for appointment of Special Director (Appeals) 22. [Omitted] 23. Terms and conditions of service of Special Director (Appeals)24. [Omitted] 25. [Omitted]  26. [Omitted] 27. Staff of Special Director (Appeals) 28. Procedure and powers of Appellate Tribunal and Special Director (Appeals)29. [Omitted] 30. [Omitted] 31. [Omitted] 32. Right of appellant to take assistance of legal practitioner or chartered accountant and of Government to appoint presenting officers33. Officers and employees, etc. to be public servant 34. Civil court not to have jurisdiction 35. Appeal to High Court CHAPTER VIDIRECTORATE OF ENFORCEMENT36. Directorate of Enforcement 37. Power of search, seizure, etc. 37A. Special provisions relating to assets held outside India in contravention of section 438. Empowering other officersCHAPTER VIIMISCELLANEOUS39. Presumption as to documents in certain cases40. Suspension of operation of this Act41. Power of Central Government to give directions42. Offences by companies43. Death or insolvency in certain cases44. Bar of legal proceedings44A. Powers of Reserve Bank not to apply to International Financial Services Centre45. Removal of difficulties 46. Power to make rules47. Power to make regulations48. Rules and regulations to be laid before Parliament49. Repeal and savingSUBJECT INDEXVolume 2PART 1DEFINITIONS: WORDS & PHRASES1.1 Definitions: Words & Phrases PART 2STATUTORY PROVISIONS2.1 Foreign Exchange Management Act, 1999 2.2 Foreign Exchange Regulation Act, 1973 PART 3COMPARATIVE TABLE OF SECTIONS3.1 Table of Comparative Sections: FEMA 1999 v FERA 1973 3.2 Table of Comparative Sections: FERA 1973 v FEMA 1999 PART 4RULES UNDER FEMA4.1 Foreign Exchange Management (Encashment of Draft, Cheque, Instrument and Payment of Interest) Rules, 20004.2 Foreign Exchange (Authentication of Documents) Rules, 20004.3 Foreign Exchange Management (Current Account Transactions) Rules, 20004.4 Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 20004.5 Foreign Exchange (Compounding Proceedings) Rules, 20004.6 Appellate Tribunal for Foreign Exchange (Recruitment, Salary and Allowances and Other Conditions of Service of Chairperson and Members) Rules, 20004.7 Foreign Exchange Management (Non-debt Instruments) Rules, 20194.8 Foreign Exchange Management (Overseas Investment) Rules, 2022PART 5FEMA REGULATIONSSl. No. Notification No. Heading5.1 FEMA 1/2000-RB, dated 3-5-2000 Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 20005.2 FEMA 2/2000-RB, dated 3-5-2000 Foreign Exchange Management (Issue of Security in India by a Branch, Office or Agency of a Person Resident Outside India) Regulations, 20005.3 FEMA.3(R)/2018-RB, dated 17-12-2018 Foreign Exchange Management (Borrowing and Lending) Regulations, 20185.4 FEMA 5(R)/2016-RB, dated 1-4-2016 Foreign Exchange Management (Deposit) Regulations, 20165.5 FEMA 6(R)/2015-RB, dated 29-12-2015 Foreign Exchange Management (Export and Import of Currency) Regulations, 20155.6 FEMA 8/2000-RB, dated 3-5-2000 Foreign Exchange Management (Guarantees) Regulations, 20005.7 FEMA 9(R)/2015-RB, dated 29-12-2015 Foreign Exchange Management (Realisation, Repatriation and Surrender of Foreign Exchange) Regulations, 20155.8 FEMA 10(R)/ 2015-RB, dated 21-1-2016 Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 20155.9 FEMA 11(R)/ 2015-RB, dated 29-12-2015 Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 20155.10 FEMA 12(R)/ 2015-RB, dated 29-12-2015 Foreign Exchange Management (Insurance) Regulations, 20155.11 FEMA 13(R)/ 2016-RB, dated 1-4-2016 Foreign Exchange Management (Remittance of Assets) Regulations, 20165.12 FEMA 14(R)/ 2016-RB, dated 2-5-2016 Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 20165.13 FEMA 395/2019-RB, dated 17-10-2019 Foreign Exchange Management (Mode of Payment and Reporting of Non-debt Instruments) Regulations, 20195.14 FEMA 396/2019-RB, dated 17-10-2019 Foreign Exchange Management (Debt Instruments) Regulations, 20195.15 FEMA 22(R)/ 2016-RB, dated 31-3-2016 Foreign Exchange Management (Establishment in India of a Branch Office or a Liaison Office or a Project Office or any Other Place of Business) Regulations, 20165.16 FEMA 23(R)/ 2015-RB, dated 12-1-2016 Foreign Exchange Management (Export of Goods & Services) Regulations, 20155.17 FEMA 25/RB-2000, dated 3-5-2000 Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 20005.18 FEMA 400/2022-RB, dated 22-8-2022 Foreign Exchange Management (Overseas Investment) Regulations, 20225.19 FEMA 71/2002-RB, dated 7-9-2002 Foreign Exchange Management (Offshore Banking Unit) Regulations, 20025.20 FEMA. 10A/2014-RB, dated 21-3-2014 Foreign Exchange Management (Crystallizatio