Start learning →

CA Final Foreign Exchange Management Act 1999 — practice questions — page 3

Explore 87 free Foreign Exchange Management Act 1999 questions in CA Final Law. Open each question or exercise to read its content, reference answers and available explanation.

Practise Foreign Exchange Management Act 1999 with Quill →

Foreign Exchange Management Act 1999 questions and exercises with answers

Showing questions 61–87 of 87.

Before the Adjudicating Authority under s.16(4), the accused may be assisted byRead the answer and worked solution →Section 16(6) aims to dispose of a complaint withinRead the answer and worked solution →Under s.17, appeals against certain orders go to theRead the answer and worked solution →An appeal to the Special Director (Appeals) must be filed withinRead the answer and worked solution →A penalty appellant before the Tribunal under s.19 must generallyRead the answer and worked solution →The Tribunal may dispense with the penalty deposit when it causesRead the answer and worked solution →The Appellate Tribunal consists of a Chairperson andRead the answer and worked solution →Who is qualified to be Chairperson of the Tribunal?Read the answer and worked solution →A Special Director (Appeals) may be drawn from the Indian Legal Service holding a post inRead the answer and worked solution →The term of office of a Tribunal Chairperson or Member isRead the answer and worked solution →The Chairperson cannot hold office beyond ageRead the answer and worked solution →Other Members of the Tribunal cannot hold office after ageRead the answer and worked solution →A Chairperson who resigns must continue for how long unless relieved sooner?Read the answer and worked solution →A Tribunal Member can be removed for proved misbehaviour orRead the answer and worked solution →Under s.28(1), the Tribunal is not bound by the procedure ofRead the answer and worked solution →Under s.28(2), Tribunal civil court powers includeRead the answer and worked solution →A Tribunal order may be appealed to the High Court withinRead the answer and worked solution →An appeal to the High Court from the Tribunal lies only on aRead the answer and worked solution →Under s.36, the Central Government establishes theRead the answer and worked solution →Under s.37, investigation of a s.13 contravention is by officers not belowRead the answer and worked solution →Under s.37(3), enforcement officers exercise powers like those ofRead the answer and worked solution →Who gives general directions to RBI under FEMA?Read the answer and worked solution →Under s.42, a person in charge of a company at the time of contravention isRead the answer and worked solution →Under s.42, he escapes liability if he proves no knowledge orRead the answer and worked solution →For s.42, a director in relation to a firm meansRead the answer and worked solution →FEMA repealed which earlier Act?Read the answer and worked solution →Notifications suspending the Act's operation are laid before Parliament for a total period ofRead the answer and worked solution →

Worked practice questions

Before the Adjudicating Authority under s.16(4), the accused may be assisted by

  1. A CA or legal practitioner
  2. A branch bank manager
  3. A tax consultant only
  4. A close relative only
Show answer and solution

Correct answer: A. A CA or legal practitioner

Section 16(4) allows appearance in person or with the help of a legal practitioner or chartered accountant of choice.

Open this question →

Section 16(6) aims to dispose of a complaint within

  1. Three months
  2. Six months
  3. Two years
  4. One year
Show answer and solution

Correct answer: D. One year

Section 16(6) says an endeavour shall be made to finally dispose of the complaint within one year of receipt.

Open this question →

Under s.17, appeals against certain orders go to the

  1. Special Director (Appeals)
  2. The Reserve Bank Governor
  3. The High Court directly
  4. The local civil court
Show answer and solution

Correct answer: A. Special Director (Appeals)

Section 17 provides appeals to the Special Director (Appeals) against orders of Assistant or Deputy Directors acting as Adjudicating Authority.

Open this question →

How to practise

  1. Choose a Foreign Exchange Management Act 1999 question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

More Law topics

Corporate Insolvency Resolution Process under the IBCWinding UpAppointment and Qualifications of DirectorsSEBI Takeover and Insider Trading RegulationsMeetings of Board and Its PowersMiscellaneous Provisions, Adjudication, Special Courts, NCLT, e-FilingSEBI Act and Listing RegulationsPublic Issue and Capital Raising Rules