INDIA CODE

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Section 5, Foreign Exchange Management Act, 1999 [S20-15S]

As at 7 September 2026. In force from 27 August 1999.

In Foreign Exchange Management Act, 1999 [A11-6AK]. This text from 27 August 1999. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 5, Foreign Exchange Management Act, 1999 [S20-15S]. Machine: S20-15S.

5. Prohibition of the holding of foreign exchange without licence.—No person shall undertake the holding of foreign exchange except under and in accordance with the conditions of a licence granted under section 6: Provided that nothing in this section shall apply to the holding of foreign exchange undertaken by or on behalf of the Central Government or a State Government.

Defined terms in this text (0)

none

Made under this section, or naming it (0)

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Cited by (1)

Section 15, Foreign Exchange Management Act, 1999 [S20-1FD], 27 August 1999, Band A. "section 5".

Not held (0)

none

Duties published under this section (0)

none

Section 5, Foreign Exchange Management Act, 1999 [S20-15S]