Powers of Reserve Bank not to apply to International Financial Services Centre . — THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999

Powers of Reserve Bank not to apply to International Financial Services Centre .

44A. Powers of Reserve Bank not to apply to International Financial Services Centre . Removal of difficulties. Power to make rules. Power to make regulations. Rules and regulations to be laid before Parliament. Repeal and saving. THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999 ACT NO. 42 OF 1999 [29th December, 1999.] An Act to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India . BE it enacted by Parliament in the Fiftieth Year of the Republic of India as follows: — CHAPTER I PRELIMINARY

Section 44A