ACT NO. VII OF 1947

The Foreign Exchange Regulation Act, 1947

[11th March, 1947]

The Foreign Exchange Regulation Act, 1947:  An Act to regulate certain payments, dealings in foreign exchange and securities and the import and export of currency and bullion. a
WHEREAS it is expedient in the economic and financial interests of Bangladesh to provide for the regulation of certain payments, dealings in foreign exchange and securities and the import and export of currency and bullion;



TABLE OF CONTENTS


SI. No. Section Subject
1. Section One Short title, extent and commencement
2. Section Two Interpretation
3. Section Three Authorised dealers in foreign exchange
4. Section Four Restrictions on dealing in foreign exchange
5. Section Five Restrictions on payment
6. Section Six Blocked accounts
7. Section Seven Special accounts
8. Section Eight Restrictions on import and export of certain currency and bullion
9. Section Nine Acquisition by Government of foreign exchange
10. Section Ten Duty of persons entitled to receive foreign exchange etc.
11. Section Eleven Power to regulate the uses, etc., of imported gold and silver
12. Section Twelve Payment for exported goods
13. Section Thirteen Regulation of export and transfer of securities
14. Section Forteen Custody of securities
15. Section Fifteen Restrictions on issue of bearer securities
16. Section Sixteen Acquisition by Government of foreign securities
17. Section Seventeen Restriction on settlement
18. Section Eighteen Certain provisions as to companies
18A. Section Eighteen A Restriction on agents
18B. Section Eighteen B Restriction on foreign companies
19. Section Nineteen Power to call for information
19A. Section Nineteen A Power of inspection
20. Section Twenty Supplemental provisions
21. Section Twenty One Contracts in evasion of this Act
22. Section Twenty Two False statements
22A. Section Twenty Two A Grant of immunity in certain cases
23. Section Twenty Three Penalty and procedure
23A. Section Twenty Three A Tribunal, its powers, etc.
24. Section Twenty Four Burden of proof in certain cases
25. Section Twenty Five Power to Government to give direction
26. Section Twenty Six Bar of legal proceedings
27. Section Twenty Seven Power to make rules


a Throughout this Act, the words “Bangladesh”, “Government”, “the Bangladesh Bank” and “Taka” were substituted for the words “Pakistan”, “Central Government”, “the State Bank” and “rupees” respectively by section 3 and the Second Schedule of the Bangladesh Laws (Revision and Declaration) Act, 1973 (Act No. VIII of 1973).



The Foreign Exchange Regulation Act,2015-2018 has been published both in Bengali and English Languages.
If there is any inconsistency between the two versions the Bengali text will prevail