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[Cites 0, Cited by 0] [Section 7] [Entire Act]

Union of India - Subsection

Section 7(2) in The Enemy Property Act, 1968

(2)In cases in which money would, but for the prohibition under the Defence of India Rules, 1962, or the Defence of India Rules, 1971, be payable in a foreign currency to or for the benefit of an enemy or an enemy subject or an enemy firm (other than cases in which money is payable under a contract in which provision is made for a specified rate of exchange), the payment shall be made to the Custodian in rupee currency at the middle official rate of exchange fixed by the Reserve Bank of India on the date on which the payment became due to that enemy, enemy subject or enemy firm.