What is the procedure in Death or insolvency in certain cases? Section 43 of FEMA Act 1999
43. Any right, obligation, liability, proceeding or appeal arising in relation to the provisions of section 13 shall not abate by reason of death or insolvency of the person liable under that section and upon such death or insolvency such rights and obligations shall devolve on the legal representative of such person or the official receiver or the official assignee, as the case may be :
Provided that a legal representative of the deceased shall be liable only to the extent of the inheritance or estate of the deceased.
Section 41 - Power of Central Government to give directions
Section 42 - Contravention by companies
Section 43 - Death or insolvency in certain cases
Section 44 - Bar of legal proceedings
Section 45 - Removal of difficulties
Section 46 - Power to make rules
Section 47 - Power to make regulations
Section 48 - Rules and regulations to be laid before Parliament