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FEMA Section 5
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The Foreign Exchange Management Act, 1999

Section 5 Current account transactions

Chapter
II · Regulation and Management of Foreign Exchange
Any person may sell or draw foreign exchange to or from an authorised person if such sale or drawal is a current account transaction:
Provided that the Central Government may, in public interest and in consultation with the Reserve Bank, impose such reasonable restrictions for current account transactions as may be prescribed.