Which one of the following statements is correct with reference to FEMA in India?

Question

TuteeHUB · Accepted Answer

As per the new dispensatio, Enforcement Directorate can arrest and prosecute the people for the viol

TuteeHUB · Answer

The Foreign Exchange Regulation Act(FERA) was replaced by Foreign Exchange Management Act (FEMA) in the year 2001

TuteeHUB · Answer

FERA was given a sunset clause of one year till 31st May 2002 to enable Enforcement Directorate to complete the investigation of pending issues

TuteeHUB · Answer

Under FEMA, violation of foreign exchange rules has caused to be a criminal offense

1.	Which one of the following statements is correct with reference to FEMA in India?
A.	The Foreign Exchange Regulation Act(FERA) was replaced by Foreign Exchange Management Act (FEMA) in the year 2001
B.	FERA was given a sunset clause of one year till 31st May 2002 to enable Enforcement Directorate to complete the investigation of pending issues
C.	Under FEMA, violation of foreign exchange rules has caused to be a criminal offense
D.	As per the new dispensatio, Enforcement Directorate can arrest and prosecute the people for the viol
Answer» D. As per the new dispensatio, Enforcement Directorate can arrest and prosecute the people for the viol

Discussion