Section 165 - Amendment of Act 42 of 1999. - THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999. - Finance Act, 2017

Amendment of Act 42 of 1999. 165 . In the Foreign Exchange Management Act, 1999,- (a) in section 2,- (i) for clause (b), the following clause shall be substituted, namely:- '(b) Appellate Tribunal means the Appellate Tribunal referred to in section 18;'; (ii) in clause (zc), for the word and figures section 18 , the word and figures section 17 shall be substituted; (b) for section 18, the following section shall be substituted, namely:- Appellate Tribunal. 18. The Appellate Tribunal constituted under sub-section (1) of section 12 of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976, (13 of 1976.)shall, on and from the commencement of Part XIV of Chapter VI of the Finance Act, 2017, be the Appellate Tribunal for the purposes of this Act and the said Appellate Tribunal shall exercise the jurisdiction, powers and authority conferred on it by or under this Act. ; (c) section 20 shall be omitted; (d) for section 21, the following section shall be substituted, namely:- Qualifications, for appointment of Special Director (Appeals). 21. A person shall not be qualified for appointment as a Special Director (Appeals) unless he- (a) has been a member of the Indian Legal Service and has held a post in Grade I of that Service; or (b) has been a member of the Indian Revenue Service and has held a post equivalent to a Joint Secretary to the Government of India. ; (e) section 22 shall be omitted; (f) for section 23, the following section shall be substituted, namely:- Terms and conditions of service of Special Director (Appeals). 23. The salary and allowances payable to and the other terms and conditions of service of the Special Director (Appeals) shall be such as may be prescribed. ; (g) sections 24, 25 and 26 shall be omitted; (h) for section 27, the following section shall be substituted, namely:- Staff of Special Director (Appeals). 27. (1) The Central Government shall provide the office of the Special Director (Appeals) with such officers and employees as it may deem fit. (2) The officers and employees of the office of the Special Director (Appeals) shall discharge their functions under the general superintendence of the Special Director (Appeals). (3) The salaries and allowances and other terms and conditions of service of the officers and employees of the office of the Special Director (Appeals) shall be such as may be prescribed. ; (i) sections 29, 30 and 31 shall be omitted; (j) in section 32,- (i) for the words and brackets Appellate Tribunal or the Special Director (Appeals), as the case may be , at both the places where they occur, the words and brackets Special Director (Appeals) shall be substituted; (ii) in sub-section (1), for the words and brackets Appellate Tribunal or the Special Director (Appeals) , the words and brackets Special Director (Appeals) shall be substituted; (k) for section 33, the following section shall be substituted, namely:- Officers and employees, etc., to be public servant. 33. The Adjudicating Authority, Competent Authority and the Special Director (Appeals) and other officers and employees of the Special Director (Appeals) shall be deemed to be public servants within the meaning of section 21 of the Indian Penal Code. (45 of 1860) ; (l) in section 46, in sub-section (2),- (i) in clause (e), for the words and brackets Chairperson and other Members of the Appellate Tribunal and the Special Director (Appeals) , the words and brackets Special Director (Appeals) shall be substituted; (ii) in clause (f), for the words and brackets Appellate Tribunal and the office of the Special Director (Appeals) , the words and brackets office of the Special Director (Appeals) shall be substituted.