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Office Memorandum No. 3657/2015/IACD of the Industries and Commerce Department, Government of Karnataka dated 15th December, 2015 on the holding of foreign exchange [C15-BCN]

As at 6 September 2026. In force. No commencement recorded.

Dates: made 15 December 2015; in force not recorded; ceased none recorded. Gazette: none recorded. Band B.

Jurisdiction: Karnataka [IN-KA]. Made by the Industries and Commerce Department, Government of Karnataka.

Synthetic. This instrument, its title, its number and its words are generated by the register.

Cite: Office Memorandum No. 3657/2015/IACD of the Industries and Commerce Department, Government of Karnataka dated 15th December, 2015 on the holding of foreign exchange, Office Memorandum No. 3657/2015/IACD, 15th December, 2015 [C15-BCN]. Machine: C15-BCN.

No. 3657/2015/IACD

GOVERNMENT OF KARNATAKA

Industries and Commerce Department, Government of Karnataka

Bengaluru, dated the 15th December, 2015

OFFICE MEMORANDUM

Subject: The holding of foreign exchange by persons resident in India under the Karnataka Industries (Facilitation) Act, 2002, regarding.

1. The undersigned is directed to say that references have been received in the Industries and Commerce Department, Government of Karnataka on the manner in which the holding of foreign exchange by persons resident in India is to be regulated under the Karnataka Industries (Facilitation) Act, 2002.

2. The matter has been examined. Every person resident in India carrying on the holding of foreign exchange shall make an application in Form SEZ-2 to the Board of Approval within sixty days, accompanied by a fee of one thousand rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the holding of foreign exchange is undertaken, and the Board of Approval shall dispose of it within sixty days of its receipt.

4. Difficulties, if any, in the implementation of this office memorandum may be brought to the notice of the Industries and Commerce Department, Government of Karnataka.

(Secretary to Government)

Made under

No enabling provision stated.

Acts on (0)

none

Acted on by (0)

none

Not held (0)

none

Office Memorandum No. 3657/2015/IACD of the Industries and Commerce Department, Government of Karnataka dated 15th December, 2015 on the holding of foreign exchange [C15-BCN]