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Foreign Exchange Management (Realisation repatriation and surrender of foreign exchange) Regulations 2015

FEMA - 9(R)/2015-RB - Dated:- 29-12-2015 - RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION NO. FEMA 9(R)/2015-RB Mumbai, the 29th December, 2015 G.S.R. 1005(E).- In exercise of the powers conferred by Section 8, sub-section (6) of Section 10, clause (c) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession of Notification No. FEMA 9/ 2000-RB dated May 3, 2000, as amended from time to time the Reserve Bank .....

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999 (42 of 1999); (ii) 'Authorised Dealer' means a person authorised as an authorised dealer under sub-section (1) of Section 10 of the Act; (iii) 'foreign exchange due' means the amount which a person has a right to receive or claim in foreign exchange; (iv) 'surrender' means the selling of foreign exchange to an authorised person in India in exchange of rupees; (v) the words and expressions used but not defined in these regulations shall have the same meanings respectiv .....

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r refrain from taking any action, which has the effect of securing - (a) that the receipt by him of the whole or part of that foreign exchange is delayed; or (b) that the foreign exchange ceases in whole or in part to be receivable by him. 4. Manner of Repatriation:- (1) On realisation of foreign exchange due, a person shall repatriate the same to India, namely bring into, or receive in, India and - (a) sell it to an authorised person in India in exchange for rupees; or (b) retain or hold it in .....

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for surrender of realised foreign exchange:- A person not being an individual resident in India shall sell the realised foreign exchange to an authorised person under clause (a) of sub-regulation (1) of regulation 4, within the period specified below:- (1) foreign exchange due or accrued as remuneration for services rendered, whether in or outside India, or in settlement of any lawful obligation, or an income on assets held outside India, or as inheritance, settlement or gift, within seven days .....

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