TMI BlogAuthorised personX X X X Extracts X X X X X X X X Extracts X X X X ..... ed dealer, money changer or off-shore banking unit or in any other manner as it deems fit. (2) An authorisation under this section shall be in writing and shall be subject to the conditions laid down therein. (3) An authorisation granted under sub-section (1) may be revoked by the Reserve Bank at any time if the Reserve Bank is satisfied that- (a) it is in public interest so to do; o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olving any foreign exchange or foreign security which is not in conformity with the terms of his authorisation under this section. (5) An authorised person shall, before undertaking any transaction in foreign exchange on behalf of any person, require that person to make such declaration and to give such information as will reasonably satisfy him that the transaction will not involve, and is not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 deemed to have committed contravention of the provisions of the Act for the purpose of this section. - - statut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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