Foreign Exchange Regulation Act, 1973
E633186
The Foreign Exchange Regulation Act, 1973 was an Indian law that tightly controlled foreign exchange transactions and foreign ownership in India before being replaced by a more liberal regulatory framework in 1999.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Foreign Exchange Regulation Act, 1973 canonical | 2 |
How this entity was disambiguated
This entity first appeared as the object of triple T6970029 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: Foreign Exchange Regulation Act, 1973 Context triple: [Foreign Exchange Management Act, 1999, repealedAct, Foreign Exchange Regulation Act, 1973]
-
A.
Foreign Exchange Management Act, 1999
The Foreign Exchange Management Act, 1999 is an Indian law that regulates foreign exchange transactions and external trade payments, aiming to facilitate orderly development and maintenance of the country’s foreign exchange market.
-
B.
Currency Act 1963
The Currency Act 1963 was Australian legislation that established the framework for replacing the Australian pound with a decimal currency system, paving the way for the introduction of the Australian dollar.
-
C.
Reserve Bank of India Act, 1934
The Reserve Bank of India Act, 1934 is the foundational legislation that established the Reserve Bank of India and provides the legal framework for monetary policy, currency issuance, and regulation of the Indian financial system.
-
D.
Currency Act 1965
The Currency Act 1965 is an Australian federal law that completed the transition to decimal currency by establishing the dollar and cent system and related monetary arrangements.
-
E.
Foreign Exchange and Foreign Trade Act of Japan
The Foreign Exchange and Foreign Trade Act of Japan is a core Japanese law that regulates foreign exchange transactions, cross-border capital flows, and trade controls, including export controls and economic sanctions, to protect national security and manage international economic relations.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: Foreign Exchange Regulation Act, 1973 Target entity description: The Foreign Exchange Regulation Act, 1973 was an Indian law that tightly controlled foreign exchange transactions and foreign ownership in India before being replaced by a more liberal regulatory framework in 1999.
-
A.
Foreign Exchange Management Act, 1999
The Foreign Exchange Management Act, 1999 is an Indian law that regulates foreign exchange transactions and external trade payments, aiming to facilitate orderly development and maintenance of the country’s foreign exchange market.
-
B.
Currency Act 1963
The Currency Act 1963 was Australian legislation that established the framework for replacing the Australian pound with a decimal currency system, paving the way for the introduction of the Australian dollar.
-
C.
Reserve Bank of India Act, 1934
The Reserve Bank of India Act, 1934 is the foundational legislation that established the Reserve Bank of India and provides the legal framework for monetary policy, currency issuance, and regulation of the Indian financial system.
-
D.
Currency Act 1965
The Currency Act 1965 is an Australian federal law that completed the transition to decimal currency by establishing the dollar and cent system and related monetary arrangements.
-
E.
Foreign Exchange and Foreign Trade Act of Japan
The Foreign Exchange and Foreign Trade Act of Japan is a core Japanese law that regulates foreign exchange transactions, cross-border capital flows, and trade controls, including export controls and economic sanctions, to protect national security and manage international economic relations.
- F. None of above. chosen
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
Indian statute
ⓘ
economic regulation law ⓘ |
| administeredBy |
Central Government of India
NERFINISHED
ⓘ
Reserve Bank of India NERFINISHED ⓘ |
| alsoKnownAs | FERA 1973 NERFINISHED ⓘ |
| appliesTo |
persons resident in India
ⓘ
persons resident outside India dealing in Indian foreign exchange ⓘ |
| cameIntoForceOn | 1974-01-01 ⓘ |
| chapterFocus |
offences and penalties
ⓘ
regulation of dealings in foreign exchange ⓘ regulation of export of goods and services ⓘ regulation of payments ⓘ |
| country | India ⓘ |
| criticizedFor |
criminalization of technical violations
ⓘ
discouraging foreign investment ⓘ overly stringent controls on foreign exchange ⓘ |
| enactedBy | Parliament of India NERFINISHED ⓘ |
| historicalContext | enacted during a period of foreign exchange scarcity in India ⓘ |
| keyFeature |
controls on remittances outside India
ⓘ
criminal penalties for violations ⓘ requirement of RBI permission for many foreign exchange transactions ⓘ restrictions on branch offices of foreign companies ⓘ restrictions on foreign ownership in Indian companies ⓘ stringent control over foreign exchange dealings ⓘ |
| legalDomain |
foreign exchange regulation
ⓘ
foreign investment control ⓘ |
| legalNature | criminal law oriented ⓘ |
| policyOrientation |
conservation of foreign exchange
ⓘ
control-oriented regulation ⓘ |
| purpose |
to conserve foreign exchange resources of India
ⓘ
to regulate certain payments and dealings in foreign exchange and securities ⓘ to regulate foreign business operations in India ⓘ |
| relatedTo |
Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974
NERFINISHED
ⓘ
Foreign Exchange Management Act, 1999 NERFINISHED ⓘ |
| repealedBy | Foreign Exchange Management Act, 1999 NERFINISHED ⓘ |
| repealedOn | 2000-06-01 ⓘ |
| replacedByFramework | more liberal foreign exchange management regime ⓘ |
| scope |
acquisition and holding of immovable property by non-residents
ⓘ
foreign companies operating in India ⓘ foreign exchange transactions ⓘ foreign securities ⓘ foreign shareholding in Indian companies ⓘ import and export of currency ⓘ non-resident accounts ⓘ |
| shortName | FERA NERFINISHED ⓘ |
| status | repealed ⓘ |
| supersededBy | more liberal Foreign Exchange Management Act, 1999 ⓘ |
| yearOfEnactment | 1973 ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Foreign Exchange Regulation Act, 1973 Description of subject: The Foreign Exchange Regulation Act, 1973 was an Indian law that tightly controlled foreign exchange transactions and foreign ownership in India before being replaced by a more liberal regulatory framework in 1999.
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
Foreign Exchange Management Act, 1999
→
replacedCriminalRegimeOf
→
Foreign Exchange Regulation Act, 1973
ⓘ