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The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India". [1]
Additionally, upon incorporation into DHS, FEMA was legally dissolved and a new Emergency Preparedness and Response Directorate was established in DHS to replace it. Following enactment of the Post-Katrina Emergency Management Reform Act of 2006 FEMA was reestablished as an entity within DHS, on March 31, 2007.
In 1988 the Stafford Disaster Relief and Emergency Assistance Act became law. The Stafford Act established a system of federal assistance to state and local governments and required all states to prepare individual Emergency Operations Plans. Also, the Stafford Act authorized the Director of FEMA to prepare a Federal Response Plan (FRP). [3]
With economic liberalization in the 1990s, FERA 1973 was repealed and replaced by the Foreign Exchange Management Act, 1999 (FEMA), which came into effect on 1 June 2000. The ED was entrusted with enforcing FEMA. [7]
The same was formed under the FEMA Act which replaced the erstwhile Foreign Exchange Regulation Act (FERA). While the main object of FERA was to conserve the foreign exchange resources and prevent the misuse thereof; the object of the FEMA was to promote and develop the foreign exchange management in India. [2]
Emergency Steel Loan Guarantee and Emergency Oil and Gas Guaranteed Loan Act of 1999: An Act providing emergency authority for guarantees of loans to qualified steel and iron ore companies and to qualified oil and gas companies, and for other purposes; Making emergency supplemental appropriations for military operations, refugee relief, and ...
The NDRF has been updated to include guidance for effective recovery by defining the roles, responsibilities, coordination, and planning among Federal, State, Local, Tribal, and Territorial jurisdictions. FEMA is one of the first government agencies in the world to develop a disaster recovery framework.
Executive Order 12148 was an executive order enacted by President Jimmy Carter on July 20, 1979, to transfer and reassign duties to the newly formed agency, known as the Federal Emergency Management Agency (FEMA), created by Executive Order 12127.