(a) "Appellate Board " means the Foreign Exchange Regulation Appellate Board constituted by the Central Government under sub-section (1) of section 52;

(b) "authorised dealer " means a person for the time being authorised under section 6 to deal in foreign exchange;

(c) "bearer certificate " means a certificate of title to securities by the delivery of which (with or without endorsement) the title to the securities is transferable;

(d) "certificate of title to a security " means any document used in the ordinary course of business as proof of the possession or control of the security, or authorising or purporting to authorise, either by an endorsement or by delivery, the possessor of the document to transfer or receive the security thereby represented;

(e) "coupon " means a coupon representing dividends or interest on a security;

(f) "currency " includes all coins, currency notes, bank notes, postal notes, postal orders, money orders, cheques, drafts, traveller's cheques, letters of credit, bills of exchange and promissory notes;

(g) "foreign currency " means any currency other than Indian currency;

(h) "foreign exchange " means foreign currency and includes-

(i) "foreign security " means any security created or issued elsewhere than in India, and any security the principal of or interest on which is payable in any foreign currency or elsewhere than in India;

(k) "Indian currency " means currency which is expressed or drawn in Indian rupees but does not include special bank notes and special one-rupee notes issued under section 28-A of the Reserve Bank of India Act, 1934;

(l) "Indian customs waters " means the waters extending into the sea to a distance of twelve nautical miles measured from the appropriate base line on the coast of India and includes any bay, gulf, harbour, creek or tidal river;

(m) "money-changer " means a person for the time being authorised under section 7 to deal in foreign currency;

(n) "overseas market ", in relation to any goods, means the market in the country outside India and in which such goods are intended to be sold;

(o) "owner ", in relation to any security, includes any person who has power to sell or transfer the security, or who has the custody thereof or who receives, whether on his own behalf or on behalf of any other person, dividends or interest thereon, and who has any interest therein, and in a case where any security is held on any trust or dividends or interest thereon are paid into a trust fund, also includes any trustee or any person entitled to enforce the performance of the trust or to revoke or vary, with or without the consent of any other person, the trust or any terms thereof, or to control the investment of the trust moneys;

(p) "person resident in India " means-

(a) for or on taking up employment outside India, or

(b) for carrying on outside India a business or vocation outside India, or

(c) for any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period;

(a) for or on taking up employment in India, or

(b) for carrying on in India a business or vocation in India, or

(c) for any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period;

(a) for or on taking up employment in India; or

(b) for carrying on in India a business or vocation in India, or

(c) for staying with his or her spouse, such spouse being a person resident in India, or

(d) for any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period;

(q) "person resident outside India " means a person who is not resident in India;

(r) "precious stone " includes pearl and semi-precious stone and such other stone or gem as the Central Government may, for the purposes of this Act, notify in this behalf in the Official Gazette;

(s) "prescribed " means prescribed by rules made under this Act;

(t) "Reserve Bank " means the Reserve Bank of India;

(u) "security " means shares, stocks, bonds, debentures, debenture-stock, Government securities as defined in the Public Debt Act, 1944, savings certificates to which the Government Savings Certificates Act, 1959, applies, deposit receipts in respect of deposits of securities, and units or sub-units of unit trusts and includes certificates of title to securities, but does not include bills of exchange or promissory notes other than Government promissory notes;

(w) "transfer ", in relation to any security, includes transfer by way of loan or security.