Home› India› Ministry of Finance› In exercise of the powers conferred by the proviso to sub-se...
Date: 2015-09-16 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by the proviso to sub-section (1) of Section 37A of the Foreign Exchange Management Act, 1999 (42 of 1999), the Central Government hereby prescribes the mandatory threshold of the aggregate value of Foreign Exchange, Foreign Security or any immovable property, situated outside India as not less than rupees one crore.

Issued by Ministry of Finance · Department of Revenue

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

This notification, GSR 701(E) and 702(E), issued by the Ministry of Finance, Department of Revenue on September 16, 2015, pertains to the Foreign Exchange Management Act (FEMA) of 1999. GSR 701(E) prescribes a mandatory threshold of rupees one crore for the aggregate value of foreign exchange, foreign security, or immovable property situated outside India, as per Section 37A(1) of FEMA. GSR 702(E) authorizes officers of the Directorate of Enforcement, not below the rank of Assistant Director, to act as Authorised Officers, also under Section 37A(1) of FEMA. The notifications are issued under file number A12011022014-Ad.ED and signed by Santosh Kumar, Under Secretary.

Key Entities Referenced

Foreign Exchange Management Act, 1999: A law enacted by the Parliament of India 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. Central Government: The executive authority of the Union of India. Directorate of Enforcement: A law enforcement agency and economic intelligence agency responsible for enforcing economic laws and fighting economic crime in India. New Delhi: The capital of India. Santosh Kumar: Under Secretary who signed the notification. India: Country in South Asia Foreign Exchange: Currency from another country Foreign Security: Security from another country
Official Source Record View Original Source →
See Full Document Text
jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99 vlk/kj.k EXTRAORDINARY Hkkx II—[k.M 3—mi&[k.M (i) PART II—Section 3—Sub-section (i) izkf/dkj ls izdkf'kr PUBLISHED BY AUTHORITY la- 564] ubZ fnYyh] cq/okj] flrEcj 16] 2015@Hkkæ 25] 1937 No. 564] NEW DELHI, WEDNESDAY, SEPTEMBER 16, 2015/BHADRA 25, 1937 ििििवववव(cid:3)(cid:3)(cid:3)(cid:3)तत तत मममम(cid:8)(cid:8)ंं(cid:8)(cid:8)ंं ााााललललयययय ((((ररररााााजजजज(cid:5)(cid:5)(cid:5)(cid:5)वव वव ििििववववभभभभाााागगगग)))) अअअअििििधधधधससससचचूूचचूू ननननाााा नई (cid:4)द(cid:6) ली, 16 िसत(cid:10) बर, 2015 ससससाााा....ककककाााा....ििििनननन.... 777700001111((((अअअअ))))....————िवदशे ी मु(cid:18)ा (cid:20)बंध अिधिनयम, 1999 (1999 का 42) क धारा 37क क उप-धारा (1) &ारा (cid:20)द’त शि(य) का (cid:20)योग करत े,ए, के.(cid:18) सरकार एत0ारा िवदशे ी म(cid:18)ु ा, िवदशे ी (cid:20)ितभिू त या भारत के बाहर ि4थ त कोई अचल सपं ि7 के कुल मू(cid:6)य क अिनवाय 8(cid:20)ारंिभक सीमा को . यनू तम एक करोड़ 9. के ;प म< िविहत करती ह।ै [फा. सं. ए-12011/02/2014-एडी.ईडी] संतोष कुमार, अवर सिचव MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 16th September, 2015 G.S.R. 701(E).—In exercise of the powers conferred by the proviso to sub-section (1) of Section 37A of the Foreign Exchange Management Act, 1999 (42 of 1999), the Central Government hereby prescribes the mandatory threshold of the aggregate value of Foreign Exchange, Foreign Security or any immovable property, situated outside India as not less than rupees one crore. [F. No. A-12011/02/2014-Ad.ED] SANTOSH KUMAR, Under Secy. 3920 GI/2015 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] अअअअििििधधधधससससचचूूचचूू ननननाााा नई (cid:4)द(cid:6) ली, 16 िसत(cid:10) बर, 2015 ससससाााा....ककककाााा....ििििनननन.... 777700002222((((अअअअ))))....————िवदशे ी मु(cid:18)ा (cid:20)बंध अिधिनयम, 1999 (1999 का 42) क धारा 37क क उप-धारा (1) &ारा (cid:20)द’त शि(य) का (cid:20)योग करत े ,ए, के.(cid:18) सरकार एत0ारा (cid:20)व8तन िनदशे ालय के कम से कम सहायक िनदशे क क र?क के अिधका@रय) को (cid:20)ािधकृत अिधकारी के ;प म< काय 8करन ेके िलए (cid:20)ािधकृत करती ह।ै [फा. सं. ए-12011/02/2014-एडी.ईडी] संतोष कुमार, अवर सिचव NOTIFICATION New Delhi, the 16th September, 2015 G.S.R. 702(E).—In exercise of the powers conferred by sub-section (1) of section 37A of the Foreign Exchange Management Act, 1999 (42 of 1999), the Central Government hereby authorises, the officers of the Directorate of Enforcement, not below the rank of Assistant Director, to act as the Authorised Officer. [F. No. A-12011/02/2014-Ad.ED] SANTOSH KUMAR, Under Secy. Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Continue your research

Related Documents from Ministry of Finance