Section 99 - Definitions - Finance Act, 1987

99. Definitions In this Chapter, unless the context otherwise requires, - (a) authorised dealer means a person for the time being authorised under section 6 of the Foreign Exchange Regulation Act, 1973, (46 of 1973), to deal in foreign exchange; (b) dealing , in relation to foreign currency, means purchasing or selling foreign currency; (c) foreign currency means any currency other than Indian currency; (d) foreign exchange means foreign currency and includes - (i) all deposits, credits and balances payable in any foreign currency, and any drafts, traveller s cheques, letters of credit and bills of exchange, expressed or drawn in Indian currency but payable in any foreign currency; (ii) any instrument payable, at the option of the drawee or holder thereof of any other party thereto, either in Indian currency or in foreign currency or partly in one and partly in the other; (e) foreign travel means a travel, the whole or any part of which is outside India; (f) money changer means a person for the time being authorised under section 7 of the Foreign Exchange Regulation Act, 1973 (46 of 1973), to deal in foreign currency; (g) words and expressions used but not defined in this Chapter shall have the meanings assigned to them in the Foreign Exchange Regulation Act, 1973 (46 of 1973).