RESERVE BANK OF INDIA — THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999

RESERVE BANK OF INDIA (FOREIGN EXCHANGE DEPARTMENT) CENTRAL OFFICE MUMBAI 400 001 Notification No. FEMA 9 (R)/2015-RB Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2015 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 makes the following regulations relating to the manner of, and the period for, realisation of foreign exchange, repatriation of realised foreign exchange to India and its surrender, namely - 1. Short title and commencement: - (i) These regulations may be called the Foreign Exchange Management (Realisation, Repatriation and Surrender of Foreign Exchange) Regulations, 2015. (ii) They shall come into force on from the date of their publication in the Official Gazette 2. Definitions: - In these Regulations, unless the context requires otherwise, - (i) 'Act' means Foreign Exchange Management Act, 1999 (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 respectively assigned to them in the Act. 3. Duty of persons to realise foreign exchange due :- A person resident in India to whom any amount of foreign exchange is due or has accrued shall, save as ot