CourtMesh

Section 44A: Powers of Reserve Bank not to apply to International Financial Services Centre

The Foreign Exchange Management Act, 1999Central Act · Act 42 of 1999

[44A. Powers of Reserve Bank not to apply to International Financial Services Centre.-- Notwithstanding anything contained in any other law for the time being in force, the powers exercisable by the Reserve Bank under this Act,--

(a) shall not extend to an International Financial Services Centre set up under sub-section (1) of section 18 of the Special Economic Zones Act, 2005 (28 of 2005);

(b) shall be exercisable by the International Financial Services Centres Authority established under sub-section (1) of section 4 of the International Financial Services Centres Authority Act, 2019,

Where this provision sits

ActThe Foreign Exchange Management Act, 1999
Section44A
Marginal notePowers of Reserve Bank not to apply to International Financial Services Centre
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act 50 of 2019. . Ins. by Act 50 of 2019, s. 33 and the second Schedule (w.e.f. 1-10-2020)

Find the provision, not just read it

The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:

  • Search 49,000+ Central and State enactments by what a provision says, not by its number
  • Jump from any section to every judgment that has applied it
  • Search 300 million+ Indian court records alongside the statute
  • Ask a research agent to find and read the case law on a provision for you

Free account. No card. About a minute to create.

Create a free account

Need this as data, not as a page? The Foreign Exchange Management Act, 1999 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.