Section 24: Restriction on settlement, etc .-No person resident in India shall, except with the general or special permission of the Reserve Bank, settle or make a gift of, any property so that a person who at the time of the settlement or the making of the gift is resident outside India, elsewhere than in the territories notified in this behalf by the Reserve Bank, will have an interest in the property, or exercise any power for payment in favour of a person who at the time of the exercise of the power is resident outside India elsewhere than in such notified territories:

Q: What does Section 24 of The Foreign Exchange Regulation Act, 1973 (FERA) deal with?

Section 24 FERA pertains to "Restriction on settlement, etc .-No person resident in India shall, except with the general or special permission of the Reserve Bank, settle or make a gift of, any property so that a person who at the time of the settlement or the making of the gift is resident outside India, elsewhere than in the territories notified in this behalf by the Reserve Bank, will have an interest in the property, or exercise any power for payment in favour of a person who at the time of the exercise of the power is resident outside India elsewhere than in such notified territories:". It is part of the The Foreign Exchange Regulation Act, 1973, a legislation enacted by the Parliament of India. Section 24 of The Foreign Exchange Regulation Act, 1973 (FERA) governs restriction on settlement, etc .-No person resident in India shall, except with the general or special permission of the Reserve Bank, settle or make a gift of, any property so that a person who at the time of the settlement or the making of the gift is resident outside India, elsewhere than in the territories notified in this behalf by the Reserve Bank, will have an interest in the property, or exercise any power for payment in favour of a person who at the time of the exercise of the power is resident outside India elsewhere than in such notified territories:. As verified on 19 May 2026.

Q: Is Section 24 FERA still in force?

Yes, Section 24 of the The Foreign Exchange Regulation Act, 1973 is currently in force across the Republic of India.

Q: What is धारा 24 FERA?

धारा 24 FERA is the Devanagari Hindi reference for Section 24 of the The Foreign Exchange Regulation Act, 1973. Section 24 of The Foreign Exchange Regulation Act, 1973 (FERA) governs restriction on settlement, etc .-No person resident in India shall, except with the general or special permission of the Reserve Bank, settle or make a gift of, any property so that a person who at the time of the settlement or the making of the gift is resident outside India, elsewhere than in the territories notified in this behalf by the Reserve Bank, will have an interest in the property, or exercise any power for payment in favour of a person who at the time of the exercise of the power is resident outside India elsewhere than in such notified territories:. As verified on 19 May 2026.

Q: What is Dhara 24 FERA?

Dhara 24 FERA is the Roman Hindi reference for Section 24 of the The Foreign Exchange Regulation Act, 1973. "Dhara" means "Section" in Hindi. Section 24 of The Foreign Exchange Regulation Act, 1973 (FERA) governs restriction on settlement, etc .-No person resident in India shall, except with the general or special permission of the Reserve Bank, settle or make a gift of, any property so that a person who at the time of the settlement or the making of the gift is resident outside India, elsewhere than in the territories notified in this behalf by the Reserve Bank, will have an interest in the property, or exercise any power for payment in favour of a person who at the time of the exercise of the power is resident outside India elsewhere than in such notified territories:. As verified on 19 May 2026.

Q: How to cite Section 24 of The Foreign Exchange Regulation Act, 1973?

Cite as: "Section 24, The Foreign Exchange Regulation Act, 1973 (FERA)" in legal briefs. For academic writing, use the BlueBook format: The Foreign Exchange Regulation Act, 1973, § 24 (India).

Law on Tips Editorial Board

Wednesday, 20 May 2026

Law on Tips(LOTS)

India's Premier Legal News

⌘K

Submit News

Home
The Bar Room
The Gazette
The Library
Legal League
Columns
Interviews

⚖

Loading…

Law on Tips.

India's most authoritative legal news platform. Bringing you the latest judgments, legislative updates, and in-depth legal analysis from the Supreme Court, High Courts, and Tribunals.

Explore

The Bar Room
The Gazette
The Library
Compare Acts
Legal League
Columns

Trust & Standards

About Us
Editorial Policy
Fact-Checking
Corrections
Methodology
Ownership
Masthead
Privacy Policy
Terms of Use
Contact

Get the latest legal news delivered to your inbox daily.

Bar News Acts League

Table of Contents

The Foreign Exchange Regulation Act, 1973

Chapter I — Full Text

Section 24

Restriction on settlement, etc .-No person resident in India shall, except with the general or special permission of the Reserve Bank, settle or make a gift of, any property so that a person who at the time of the settlement or the making of the gift is resident outside India, elsewhere than in the territories notified in this behalf by the Reserve Bank, will have an interest in the property, or exercise any power for payment in favour of a person who at the time of the exercise of the power is resident outside India elsewhere than in such notified territories:

Provided that any settlement or gift made or any power exercised as aforesaid without the permission of the Reserve Bank shall not be invalid merely on the ground that such permission has not been obtained.