# The Foreign Exchange Management Act, 1999, Section 44A: Powers of Reserve Bank not to apply to International Financial Services Centre

- Act: The Foreign Exchange Management Act, 1999 (Act 42 of 1999)
- In force from: 2000-06-01
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/fema/section/44A/

## Text

1[44A. Powers of Reserve Bank not to apply to International Financial Services Centre.-- Notwithstanding anything contained in any other law for the time being in force, the powers exercisable by the Reserve Bank under this Act,-- (a) shall not extend to an International Financial Services Centre set up under sub-section (1) of section 18 of the Special Economic Zones Act, 2005 (28 of 2005); (b) shall be exercisable by the International Financial Services Centres Authority established under sub-section (1) of section 4 of the International Financial Services Centres Authority Act, 2019,

---
Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.