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MUHAMMAD SAEED RANA versus STATE BANK OF PAKISTAN

Section 3 and 4 of the Foreign Exchange Regulation Act, 1947, the Protection of Economic Reforms Act (XII of 1992), the proposal and the repeal of Section 4 Constitution of Pakistan (1973), Article 185 (3) of the applicant's money changer license. Based on the material on record, the revised accuracy has concluded that the applicant has to obtain a license for a foreign exchange transaction as a State Bank Licensee, a liberalization of government policy. Doing so does not give individuals the option of doing business to allow foreign exchange. No weakness was identified in the High Court decision. Section 4, Foreign Exchange Regulation Act, indicated that it is indicated that no person other than the authorized general dealer / special dealer of the State Bank shall do foreign business except Section 4, Foreign Exchange Regulation. Section 4 of the Act, 1947, was not in conflict with the Protection of Economic Reform Act, 1992 There was nothing in the latter act to prevent the State Bank from controlling financial institutions and dealers, the Petitioner himself, the Protection of Economic Reform Act, After the implementation of 1992, it was able to obtain a license as a money changer for a specific period Was to return in the absence of renewal. The appeal to the State Bank was denied unless it was renewed or expanded in accordance with the law. how to become a advocate from Kotri lawyer