Section 7(2) in The Foreign Exchange Regulation Act, 1973
(2)An authorisation under this section shall be in writing and-(i)may authorise dealings in all foreign currencies or may be restricted to authorising dealings in specified foreign currencies only;(ii)may authorise transactions of all descriptions in foreign currencies or may be restricted to authorising specified transactions only;(iii)may be granted with respect to a particular place where alone the money-changer shall carry on his business;(iv)may be granted to be effective for a specified period, or within specified amounts;(v)may be granted subject to such conditions as may be specified therein.
