Foreign Exchange Management Act, 1999
An Act to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
Chapter I: Preliminary
Chapter II: Regulation and Management of Foreign Exchange
- 3 Dealing in foreign exchange, etc 3 judgments
- 4 Holding of foreign exchange, etc 2 judgments
- 5 Current account transactions
- 6 Capital account transactions 1 judgment
- 7 Export of goods and services
- 8 Realisation and repatriation of foreign exchange
- 9 Exemption from realisation and repatriation in certain cases
Chapter III: Authorised Person
Chapter IV: Contravention and Penalties
Chapter V: Adjudication and Appeal
- 16 Appointment of Adjudicating Authority 2 judgments
- 17 Appeal to Special Director (Appeals) 1 judgment
- 18 Appellate Tribunal 1 judgment
- 19 Appeal to Appellate Tribunal 6 judgments
- 20 Omitted
- 21 Qualifications, for appointment of Special Director (Appeals)
- 22 Omitted
- 23 Terms and Conditions of service Special Director (Appeals)
- 24 Omitted
- 25 Omitted
- 26 Member to act as Chairperson in certain circumstances
- 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 officers
- 33 Members, etc., to be public servants
- 34 Civil court not to have jurisdiction 3 judgments
- 35 Appeal to High Court 12 judgments
Chapter VI: Directorate of Enforcement
Chapter VII: Miscellaneous
- 39 Presumption as to documents in certain cases
- 40 Suspension of operation of this Act
- 41 Power of Central Government to give directions
- 42 Contravention by companies 1 judgment
- 43 Death or insolvency in certain cases
- 44 Bar of legal proceedings
- 44A Powers of Reserve Bank not to apply to International Financial Services Centre
- 45 Removal of difficulties
- 46 Power to make rules 1 judgment
- 47 Power to make regulations 5 judgments
- 48 Rules and regulations to be laid before Parliament
- 49 Repeal and saving 11 judgments
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 14 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.