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The Foreign Contribution (Regulation) Act, 2010 No. 42 of 2010[26th September, 2010.] Complete Act

Title: The Foreign Contribution (Regulation) Act, 2010 No. 42 of 2010[26th September, 2010.]

State: Central

Year: 2010

.....(c) of section 9 or section 18; or(b) seeks prior permission or registration by means of fraud, false representation or concealment of material fact,shall, on conviction by a court, be liable to imprisonment for a term which may extend to six months or with fine or with both. 34. Penalty for article or currency or security obtained in contravention of section 10. - If any person, on whom any prohibitory order has been served under section 10, pays, delivers, transfers or otherwise deals with, in any manner whatsoever, any article or currency or security, whether Indian or foreign, in contravention of such prohibitory order, he shall be punished with imprisonment for a term which may extend to three years, or with fine, or with both; and notwithstanding anything contained in the Code of Criminal Procedure, 1973, the court trying such contravention may also impose on the person convicted an additional fine equivalent to the market value of the article or the amount of the currency or security in respect of which the prohibitory order has been contravened by him or such part thereof as the court may deem fit. 35. Punishment for contravention of any provi-sion of the Act. -.....

Foreign Exchange Regulation Act, 1973 [Repealed] Repealing Act 1

Title: Foreign Exchange Management Act, 1999

State: Central

Year: 1973

.....notification, direction or order made thereunder, and where (he said person refuses to comply with any such requirement or makes only unsatisfactory compliance therewith the authorised person shall refuse in writing to undertake the transaction and shall, if he has reason to believe that any such contravention or evasion as aforesaid is contemplated by the person, report the matter to the Reserve Bank. (6) Any person, other than an authorised person, who has acquired or purchased foreign exchange for any purpose mentioned in the declaration made by him to authorised person under sub-section (5) does not use it for such purpose or does not surrender it to authorised person within the specified period or uses the foreign exchange so acquired or purchased for any other purpose for which purchase or acquisition of foreign exchange is not permissible under the provisions of the Act or the rules or regulations or direction or order made thereunder shall be deemd to have committed contravention of the provisions of the Act for the purpose of this section. 11. Reserve Bank's powers to issue directions to authorised person (1) The Reserve, Bank may, for the purpose of.....

Foreign Exchange Management Act, 1999 Chapter 2

Title: Regulation and Management of Foreign Exchange

State: Central

Year: 1999

.....Central Government may, in public interest and in consultation with the Reserve Bank, impose such reasonable restrictions for current account transactions as may be prescribed. Section 6 - Capital account transactions (1) Subject to the provisions of sub-section (2),any person may sell or draw foreign exchange to or from an authorised person for acapital account transaction. (2) The Reserve Bank may, in consultation with the Central Government, specify - (a) any class or classes of capital account transactions which are permissible; (b) the limit up to which foreign exchange shall be admissible for such transactions: Provided that the Reserve Bank shall not impose any restriction on the drawal of foreign exchange for payments due on account of amortization of loans or for depreciation of direct investments in the ordinary course of business. (3) Without prejudice to the generality of the provisions of sub-section (2), the Reserve Bank may, by regulations prohibit, restrict or regulate the following: - (a) transfer or issue of any foreign security by a person resident in India; (b) transfer or issue of any security by a person resident outside India; (c).....

Foreign Exchange Regulation Act, 1973 [Repealed] Section 19

Title: Regulation of Export and Transfer of Securities

State: Central

Year: 1973

.....coupon, is not entitled to exercise those rights except in accordance with the instructions given by some other person, and a person holding a security or coupon as a nominee shall be deemed to act as nominee for the person who is entitled to give instructions either directly or through the agency of one or more persons, as to the exercise by the holder of the security or coupon of any rights in respect thereof and is not, in so doing himself under a duty to comply with instructions given by some other person. ____________________________ 1. Clause (c) omitted by Act 29 of 1993, sec. 8 w.e.f. 8-1-1993 2. Substituted by Act 29 of 1993, sec. 8, for sub-sections (5) and (6) w.e.f. 8-1-1993.

Foreign Exchange Regulation Act, 1973 Section 19

Title: Regulation of Export and Transfer of Securities

State: Central

Year: 1973

(1) Notwithstanding anything contained in section 81 of the Companies Act, 1956(1 of 1956), no person shall, except with the general or special permission of the Reserve Bank,- (a) take or send any security to any place outside India; (b) transfer any security, or create or transfer any interest in a security, to or in favour of a person resident outside India; 1 [* * * * *] (d) issue, whether in India or elsewhere, any security which is registered or to be registered in India, to a person resident outside India; (e) acquire, hold or dispose of any foreign security. (2) Where the holder of a security is a nominee, neither he nor any person through whose agency the exercise of all or any of the holder's rights in respect of the security is controlled shall, except with the general or special permission of the Reserve Bank, do any act, whereby he recognises or gives effect to the substitution of another person as the person from whom he directly receives instructions, unless both the persons previously instructing and the person substituted for that person were, immediately before the substitution, resident in India.

Reserve Bank of India Act, 1934 (2 of 1934) Section 37

Title: Suspension of Assets Requirements as to Foreign Securities

State: Central

Year: 1934

1 [37. Suspension of assets requirements as to foreign securities Notwithstanding anything contained in the foregoing provisions, the Bank may, with the previous sanction of the Central Government, for periods not exceeding six months in the first instance, which may, with the like sanction, be extended from time to time by period not exceeding three months at a time, hold as assets foreign securities of less amount in value than that required by sub-section (2) of section 33: 2 [***] ________________________ 1. Substituted by Act 38 of 1956, section 4, for section 37 (w.e.f. 6-10-1956). 2. Proviso omitted by Act 48 of 1957, section 3 (w.e.f. 31-10-1957).

Foreign Exchange Management Act, 1999 Section 3

Title: Dealing in Foreign Exchange, Etc

State: Central

Year: 1999

.....of any person resident outside India through any other person (including an authorised ' person) without a corresponding inward remittance from any place outside India, then, such person shall be deemed to have received such payment otherwise than through an authorised person; (d) enter into any financial transaction in India as consideration for or in association with acquisition or creation or transfer of a right to acquire, any asset outside India by any person. Explanation.-For the purpose of this clause, "financial transaction" means making any payment to, or for the credit of any person, or receiving any payment for, by order or on behalf of any person, or drawing, issuing or negotiating any bill of exchange or promissory note, or transferring any security or acknowledging any debt.

Foreign Exchange Management Act, 1999 Section 4

Title: Holding of Foreign Exchange, Etc

State: Central

Year: 1999

Save as otherwise provided in this Act, no person resident in India shall acquire, hold, own, possess or transfer any foreign exchange, foreign security or any immovable property situated outside India.

Foreign Exchange Regulation Act, 1973 Complete Act

State: Central

Year: 1973

.....rule, notifica- tion, direction or order made thereunder, and where the said person refuses to comply with any such requirement or makes only unsatisfactory compliance therewith, the authorised dealer shall refuse to undertake the transaction and shall, if he has reason to believe that any such contravention or evasion as aforesaid is contemplated by the person, report the matter to the Reserve Bank. SECTION 07: MONEY-CHANGERS (1) The Reserve Bank may, on an application made to it in this behalf, authorise any person to deal in foreign currency. (2) An authorisation under this section shall be in writing and- (i) may authorise dealings in all foreign currencies or may be restricted to authorising dealings in specified foreign currencies only; (ii) may authorise transactions of all descriptions in foreign currencies or may be restricted to authorizing specified transactions only; (iii) may be granted with respect to a particular place where alone the money-changer shall carry on his business; (iv) maybe granted to be effective for a specified period, or within specified amounts; (v) may be granted subject to such conditions as may be specified therein. (3) Any authorisation.....

Foreign Contribution (Regulation) Act, 2010 Complete Act

State: Central

Year: 2010

.....sub-sec. (c) of Sec. 9 or Sec. 18; or (b) seeks prior permission or registration by means of fraud, false representation or concealment of material fact, shall, on conviction by a court, be liable to imprisonment for a term which may extend to six months or with fine or with both. SECTION 34 : Penalty for article or currency or security obtained in contravention of Sec. 10 If any person, on whom any prohibitory order has been served under Sec. 10, pays, delivers, transfers or otherwise deals with, in any manner whatsoever, any article or currency or security, whether Indian or foreign, in contravention of such prohibitory order, he shall be punished with imprisonment for a term which may extend to three years, or with fine, or with both; and notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), the court trying such contravention may also impose on the person convicted an additional fine equivalent to the market value of the article or the amount of the currency or security in respect of which the prohibitory order has been contravened by him or such part thereof as the court may deem fit. SECTION 35 : Punishment for contravention of any.....