FEMA 1999
E633187
FEMA 1999 is an Indian law that regulates foreign exchange transactions and external trade to facilitate orderly development and maintenance of the country’s foreign exchange market.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
Indian statute
ⓘ
economic law ⓘ foreign exchange law ⓘ |
| administeredBy | Reserve Bank of India NERFINISHED ⓘ |
| appliesTo |
foreign exchange transactions in India
ⓘ
persons resident in India ⓘ persons resident outside India dealing in Indian foreign exchange ⓘ |
| authorizes | Reserve Bank of India to regulate foreign exchange ⓘ |
| cameIntoForce | 1 June 2000 ⓘ |
| chapterCount | 7 ⓘ |
| country | India ⓘ |
| defines |
authorized person
ⓘ
capital account transaction ⓘ current account transaction ⓘ person resident in India ⓘ |
| enactedBy | Parliament of India NERFINISHED ⓘ |
| enforcementAuthority | Directorate of Enforcement NERFINISHED ⓘ |
| fullName | Foreign Exchange Management Act, 1999 NERFINISHED ⓘ |
| jurisdiction | Republic of India NERFINISHED ⓘ |
| legalNature | civil law statute ⓘ |
| objective |
facilitate external trade and payments
ⓘ
promote macro‑economic stability through foreign exchange management ⓘ |
| providesFor |
adjudication of contraventions
ⓘ
appeals to Appellate Tribunal ⓘ appointment of authorized dealers in foreign exchange ⓘ penalties for contravention of foreign exchange regulations ⓘ |
| purpose |
facilitate external trade and payments
ⓘ
promote orderly development and maintenance of foreign exchange market in India ⓘ regulate foreign exchange transactions ⓘ |
| region | India NERFINISHED ⓘ |
| regulates |
capital account transactions
ⓘ
cross‑border payments ⓘ current account transactions ⓘ export of goods and services ⓘ foreign exchange dealings ⓘ foreign security investments ⓘ import of goods and services ⓘ |
| replaced | Foreign Exchange Regulation Act, 1973 NERFINISHED ⓘ |
| replacedLawNature | criminal law statute ⓘ |
| sectionCount | 49 ⓘ |
| shortName | FEMA NERFINISHED ⓘ |
| status | in force ⓘ |
| subjectMatter |
cross‑border capital flows
ⓘ
external trade ⓘ foreign exchange ⓘ |
| yearOfEnactment | 1999 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.