law: Foreign Exchange Management Act, 1999 
  47. Power to make regulations 
  (1) Reserve Bank may, by notification, make regulations, to
  
  carry out the provisions of this Act and the rules made thereunder 
  
  :
  (2) Without prejudice to the generality of the foregoing power, such
  
  regulations may provide for,- 
  1. the permissible
  
  classes of capital account transactions, the limits of admissibility of foreign
  
  exchange for such transactions, and the prohibition, restriction or regulation
  
  of certain capital account transactions under section 6;
  2. the manner and the
  
  form in which the declaration is to be furnished under clause (a) of
  
  sub-section (1) of section 7;
  3. the period within
  
  which and the manner of repatriation of foreign exchange under section 8;
  4. the limit up to which
  
  any person may possess foreign currency or foreign coins under clause (a) of
  
  section 9;
  5. the class of
  
  persons and the limit up to which foreign currency account may be held or
  
  operated under clause (b) of section 9;
  6. the limit up to
  
  which foreign exchange acquired may be exempted under clause (d) of section 9;
  7. the limit up to
  
  which foreign exchange acquired may be retained under clause (e) of section 9;
  8. any other matter
  
  which is required to be, or may be, specified.