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TypeBare Act JurisdictionCentral Government

Foreign Exchange Management Act, 1999 Section 40

Suspension of Operation of This Act

~1 min read
https://sooperkanoon.com/act/1877

Bare act section · Research

About this section

Foreign Exchange Management Act, 1999 Section 40 is part of Foreign Exchange Management Act, 1999 - Suspension of Operation of This Act. Read the section text below and explore Indian court judgments that cite it.

Research copy - verify against official government publications before filing or court use.

Section Text

(1) If the Central Government is satisfied that circumstances have arisen rendering it necessary that any permission granted or restriction imposed by this Act should cease to be granted or imposed, or if it considers necessary or expedient so to do in public interest, the Central Government may, by notification, suspend or relax to such extent either indefinitely or for such period as may be notified, the operation of all or any of the provisions of this Act.

(2) Where the operation of any provision of this Act has under sub-section (1) been suspended or relaxed indefinitely, such suspension or relaxation may, at any time while this Act remains in force, be removed by the Central Government by notification.

(3) Every notification issued under this section shall be laid, as soon as may be after it is issued before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the notification or both Houses agree that the notification should not be issued, the notification shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that notification.

Frequently asked questions

What does Foreign Exchange Management Act, 1999 Section 40 provide?

Section Section 40 of the Foreign Exchange Management Act, 1999 (Suspension of Operation of This Act) is reproduced on this page as part of the Foreign Exchange Management Act, 1999. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Foreign Exchange Management Act, 1999 Section 40?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Foreign Exchange Management Act, 1999 Section 40. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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