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Payment From Exchange Earners' Foreign Currency (EEFC) account -Rule 6 - FEMA Ready Reckoner - FEMAExtract As per rule 6 of Foreign Exchange Management (Current account Transaction ) Rules, 2000 Payment from Exchange Earners' Foreign Currency (EEFC) account Drawal made out of funds held in Exchange Earners' Foreign Currency (EEFC) account of the remitter, rule 4 or rule 5 of Current account transaction rules, 2000 shall not apply. [ Sub-Rule (1) ] Exception of Sub Rule (1) Following drawal of foreign exchange from the Exchange Earners Foreign Currency (EEFC) account on which Rule 4 5 of Current account Transaction rules, 2000 apply Rule 4 of Foreign Exchange Management (Current Account Transaction) Rules 2000 , Transactions which require prior approval of the Central Government, as amended from time to time SCHEDULE II Purpose of Remittance Ministry/Department of Government of India whose approval is required 10. Omitted 11. Remittance for membership of P I Club Ministry of Finance (Insurance Division) Drawal of foreign exchange from the Exchange Earners Foreign Currency (EEFC) account is for the purpose specified in items item 3, 4, 11, 16 17 Schedule III of rule 5 has been omitted w.e.f. 26.05.2015 vide Not. 1/6/EM/2015 - Dated 26-5-2015 . [ Sub rule (2) ]
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