Republic of the Union of Myanmar State Administration Council Law Amending the Foreign Exchange Management Law Law No 57/2021 of the State Administration Council

 1st Waxing of Thadingyut 1383 ME

6 October 2021

 THE State Administration Council hereby promulgated this law under Section 419 of the Constitution of the Republic of the Union of Myanmar.

 1. This law shall be named “the Law Amending the Foreign Exchange Management Law”.

 2. Section 41 of the Foreign Exchange Management Law shall be substituted as follows: - “41. Anyone must not violate any prohibitions involved in the bylaws, rules, disciplines, notifications, orders, directives and procedures which were released under this law related to the foreign exchange management.”

 3. The word “or 41”, included in Section 44 of the Foreign Exchange Management Law, shall be cancelled.

 4. The following section shall be inserted as Section 44-a, under Section 44 of the Foreign Exchange Management Law: - “44-a. If it is necessary to take action against anyone under Section 41, legal proceedings shall only be instituted with less than one year’s imprisonment or fine or both.” I hereby signed it under Section 419 of the Constitution.

 Sd/Min Aung Hlaing

Senior General Chairman

 State Administration Council

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