Updated: Friday March 29, 2013/AlJumaa
Jamada El Oula 18, 1434/Sukravara
Chaitra 08, 1935, at 08:41:49 AM
The Foreign Exchange Regulation (Application to Azad Jammu &
Preamble:
Whereas it is necessary to provide for regulating foreign exchange in the
It is hereby enacted as follows:---
1. (1) This Act may be called the Foreign Exchange
Regulation (Application to Azad Jammu and
(2) It extends to the whole of the
(3) It shall come into force at once.
It is hereby declared that the Foreign Exchange
Regulation Act, 1947 (VII of 1947), as it may be in force in Pakistan,
hereinafter referred to as the said Act, shall apply to the Azad Jammu and
Kashmir Territory subject to the following further provisions, namely: ---
(i) In the preamble to the said Act
after the word ‘
(ii) In sub-section (3) of Section 23-A of
the said Act after the words, 9 figures and commas “Code of Criminal Procedure,
1898 (Act V of 1898)”, the words, brackets, commas and figures “as amended by
the Azad Kashmir Criminal Procedure Code (Amendment) Act, 1958”, shall be
inserted;
(iii) All rules, orders and notifications made
under the said Act or that may be made from time to time shall, as far as
practicable, be deemed to be applicable to
(iv) The expressions ‘Central Government’
occurring in the said Act shall mean the Federal Government of Pakistan except
for the purposes of proceedings in Courts or Tribunals, and the expression ‘State
Bank’ shall mean the ‘State Bank of
(v) The expression ‘High Court’
occurring in the said Act shall, in its application to the Azad Jammu and
Kashmir Territory mean the ‘Azad Jammu and Kashmir High Court’; and
(vi) No Tribunal shall take cognizance of an offence under the said Act, except on the offence complained in writing to the District Magistrate within whose jurisdiction the offence is alleged to have been committed.
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