FER Act, 1947 (Amended up to 2015)

UPDATE AND/OR REFERENCE OF FOREIGN EXCHANGE REGULATION ACT, 1947.

 RESTRICTIONS ON IMPORT AND EXPORT OF CERTAIN CURRENCY AND BULLION. REF: FEPD CIRCULAR NO. 05 DATED 30.01.2014.

  1. (1) The Government may, by notification in the official Gazette, order that, subject to such exemptions, if any, as may be contained in the notification, no person shall, except with the general or special permission of the Bangladesh Bank and on payment of the fee, if any, prescribed bring or send into Bangladesh any gold or silver or any currency notes or bank notes or coin whether Bangladesh or foreign.

Explanation.- The bringing or sending into any part or place in the territories of Bangladesh of any such article as aforesaid, intended to be taken out of the territories of Bangladesh without being removed from the ship or conveyance in which it is being carried, shall nonetheless be deemed to be bringing or as the case may be sending, into the territories of Bangladesh of that article for the purposes of this section.

  1. REF: FEID CIRCULAR LETTER NO. 01 DATED 19.02.2014.

18A. Deleted

  1. RESTRICTION ON FOREIGN COMPANIES. REF: FEPD LETTER NO. 5092 DATED 09.06.2016.

18B. (1) Person resident outside Bangladesh (whether or not a citizen of Bangladesh) or a person who is not a citizen of, but resident in, Bangladesh or a company (other than a banking company) not incorporated under any law for the time being in force in Bangladesh shall report to Bangladesh Bank within 30(thirty) days of obtaining permission from Board of Investment or similar competent authority in Bangladesh to establish in Bangladesh a branch office or liaison office or representative office or any other place of business for carrying on any activity of a trading commercial or industrial nature.]

  1. SUPPLEMENTAL PROVISIONS. REF: FEPD CIRCULAR NO. 15 DATED 09.05.2016 & FEPD CIRCULAR NO. 02 DATED 11.02.2015.

20.(3) The Bangladesh Bank may give directions in regard to the making of payments and the doing of other acts by bankers, authorised dealers, travel agents, carriers, whether common or private, stock brokers and other persons who are authorised by the Bangladesh Bank to do anything in pursuance of this Act in the course of their business, as appear to it to be necessary or expedient for the purpose of securing compliance with the provisions of this Act and any rules, orders or directions made thereunder.