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Section 22 of Foreign Exchange Mgt. Act 1999 (FEMA): Term of Office

Section 22 (Term of office) under Chapter V (Adjudication and Appeal) of the Foreign Exchange Management Act 1999 (FEMA)

❝The Chairperson and every other Member shall hold office as such for a term of five years from the date on which he enters upon his office:

 Provided that no Chairperson or other Member shall hold office as such after he has attained,-
  1. in the case of the Chairperson, the age of sixty-five years;
  2. in the case of any other Member, the age of sixty-two years.❞




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Note: Section 22 of the Act was OMITTED by the Finance Act, 2017 (07 of 2017), sec. 165 (w.e.f. 26th May, 2017).

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Extra Notes:

The Foreign Exchange Management Act, 1999 was amended by:
- the Finance Act, 2015 (Act No. 20 of 2015);
- the Finance Act, 2016 (Act No. 28 of 2016);
- the Finance Act, 2017 (Act No. 07 of 2017).

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