Office Memorandum No. 2222/2020/LD of the Law Department, Government of Maharashtra dated 15th July, 2020 on dealing in foreign currency [C13-T6T]

No. 2222/2020/LD

GOVERNMENT OF MAHARASHTRA

Law Department, Government of Maharashtra

Mumbai, dated the 15th July, 2020

OFFICE MEMORANDUM

Subject: Dealing in foreign currency by dealers in foreign currency under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000, regarding.

1. The undersigned is directed to say that references have been received in the Law Department, Government of Maharashtra on the manner in which dealing in foreign currency by dealers in foreign currency is to be regulated under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000.

2. The matter has been examined. Every dealer in foreign currency carrying on dealing in foreign currency shall make an application in Form C to the Registrar of Moneylenders within fifteen days, accompanied by a fee of fifty thousand rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which dealing in foreign currency is undertaken, and the Registrar of Moneylenders shall dispose of it within fifteen days of its receipt.

4. Difficulties, if any, in the implementation of this office memorandum may be brought to the notice of the Law Department, Government of Maharashtra.

(Secretary to Government)