An Act to regulate certain payments, dealings in foreign exchange and Securities and the import and export of currency and. WHEREAS it is expedient in the economic and financial interest of Pakistan to provide for the regulation of certain payments, dealings in foreign exchange and securities and the import and export of CURRENCY. | MBF-705 LEGAL AND REGULATORY ASPECTS OF BANKING SUPERVISION OSMAN BIN SAIF Session: TWENTY EIGHT Summary of Last session State Bank of Pakistan Act, 1956 2 Agenda of this Session Foreign Exchange Regulation Act 3 Foreign Exchange Regulation Act, 1947 Act No. VII of 1947 (11th March, 1947) 4 Foreign Exchange Regulation Act, 1947 An Act to regulate certain payments, dealings in foreign exchange and Securities and the import and export of currency and . 5 Foreign Exchange Regulation Act, 1947 WHEREAS it is expedient in the economic and financial interest of Pakistan to provide for the regulation of certain payments, dealings in foreign exchange and securities and the import and export of CURRENCY. 6 SECTIONS AND CHAPTERS SECTIONS CHAPTERS 1 Short title, extent and commencement. 2 Interpretation. 3 Authorised Dealers in Foreign Exchange. 4 Restrictions on dealing in Foreign Exchange. 5 Restrictions on payments. 6 Blocked accounts. 7 Special accounts. 8 Restrictions on import and export | MBF-705 LEGAL AND REGULATORY ASPECTS OF BANKING SUPERVISION OSMAN BIN SAIF Session: TWENTY EIGHT Summary of Last session State Bank of Pakistan Act, 1956 2 Agenda of this Session Foreign Exchange Regulation Act 3 Foreign Exchange Regulation Act, 1947 Act No. VII of 1947 (11th March, 1947) 4 Foreign Exchange Regulation Act, 1947 An Act to regulate certain payments, dealings in foreign exchange and Securities and the import and export of currency and . 5 Foreign Exchange Regulation Act, 1947 WHEREAS it is expedient in the economic and financial interest of Pakistan to provide for the regulation of certain payments, dealings in foreign exchange and securities and the import and export of CURRENCY. 6 SECTIONS AND CHAPTERS SECTIONS CHAPTERS 1 Short title, extent and commencement. 2 Interpretation. 3 Authorised Dealers in Foreign Exchange. 4 Restrictions on dealing in Foreign Exchange. 5 Restrictions on payments. 6 Blocked accounts. 7 Special accounts. 8 Restrictions on import and export of certain currency and . 7 SECTIONS AND CHAPTERS (Contd.) SECTIONS CHAPTERS 9 Acquisition by Federal Government of foreign exchange. 10 Duty of persons entitled to receive foreign exchange, etc. 11 Power to regulate the uses, etc., of imported gold and silver. 12 Payment for exported goods. 13 Regulation of export and transfer of securities. 14 Custody of securities. 15 Restrictions on issue of bearer securities. 16 Acquisition by Federal Government of foreign securities. 17 Restriction on settlement. 18 Certain provisions as to companies. 19 Power to call for information. 20 Supplemental provisions. 8 SECTIONS AND CHAPTERS (Contd.) SECTIONS CHAPTERS 21 Contracts in evasion of this Act. 22 False statements. 23 Penalty and procedure. 24 Burden of proof in Certain Cases. 25 Power to Federal Government to give directions. 26 Bar of legal proceedings. 27 Power to make rules. 9 Short title, extent and commencement (1) This Act may be called the Foreign Exchange Regulation Act, 1947. .
