Foreign Exchange Management Act, 1999

Section - 6 - Capital account transactions

Capital account transactions.

6. (1) Subject to the provisions of sub-section (2), any person may sell or draw foreign exchange to or from an authorised person for a capital account transaction.

(2) The Reserve Bank may, in consultation with the Central Government, specify-

[(a)	-	any class or classes of capital account transactions, involving debt instruments, which are permissible;]
(b)	-	the limit up to which foreign exchange shall be admissible for such transactions;
[(c)	-	any conditions which may be placed on such transactions:]

[Provided that the Reserve Bank or the Central Government shall not impose any restrictions on the drawal of foreign exchange for payment due on account of amortisation of loans or for depreciation of direct investments in the ordinary course of business.]

[(2A) The Central Government may, in consultation with the Reserve Bank, prescribe-

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