Standing Order No. 1682/2019 of the Industries and Commerce Department, Government of Maharashtra dated 17th September, 2019 on dealing in foreign exchange as an authorised dealer [C19-GEX]

Standing Order No. 1682/2019

GOVERNMENT OF MAHARASHTRA

Industries and Commerce Department, Government of Maharashtra

Mumbai, dated the 17th September, 2019

STANDING ORDER

To

All Authorised Officers,

Subject: Dealing in foreign exchange as an authorised dealer by authorised dealers under the Maharashtra Industrial Development Act, 1962, regarding.

In exercise of the powers conferred by section 9 of the Maharashtra Industrial Development Act, 1962 (Maharashtra Act 3 of 1962), the Industries and Commerce Department, Government of Maharashtra hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to dealing in foreign exchange as an authorised dealer by authorised dealers.

2. The matter has been examined. Every authorised dealer carrying on dealing in foreign exchange as an authorised dealer shall make an application in Form FC-4 to the Government of Maharashtra within forty-five days, accompanied by a fee of two thousand rupees.

3. The Authorised Officer shall ensure that goods is dealt with as directed above, and shall report compliance to the Government of Maharashtra within forty-five days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Industries and Commerce Department, Government of Maharashtra.

(Secretary to Government)