Power to Reserve Bank make Regulations [ Section 47 ]

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..... ise of power by Reserve Bank of India under Section 47 of the act, Ten Regulation have been notified by Reserve Bank in official Gazette in respect of then capital account transaction refereed to in section 6(3) of the FEMA Act. Apart from the said ten regulation, Reserve Bank has exercised to power to make regulations for several other important matters, such as establishment for carryin .....

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..... change for such transactions, and the prohibition, restriction or regulation of such capital account transactions under section 6 ; (b) the manner and the form in which the declaration is to be furnished under section 7(1)(a) ; (c) the period within which and the manner of repatriation of foreign exchange under section 8 ; (d) the limit up to which any person may possess foreign .....

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