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Section 26 FEMA 1999: Member to act as Chairperson in certain circumstances

Section 26 (Member to act as Chairperson in certain circumstances) under Chapter V (Adjudication and Appeal) of the Foreign Exchange Management Act 1999 (FEMA)

❝(1) In the event of the occurrence of any vacancy in the office of the Chairperson by reason of his death, resignation or otherwise, the senior-most member, shall act as the Chairperson until the date on which a new Chairperson, appointed in accordance with the provisions of this Act to fill such vacancy, enters upon his office.

(2) When the Chairperson is unable to discharge his functions owing to absence, illness or any other cause, the senior-most member, shall discharge the functions of the Chairperson until the date on which the Chairperson resumes his duties.❞




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Note: Section 26 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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