The Cabinet is today scheduled to discuss the setting up of an appellate tribunal under the Foreign Exchange Management Act, 1999.
The tribunal will have five members with one full-time chairman, two full-time members and two part-time members.
The body, to be called the Appellate Tribunal for Forfeited Property, will have the powers of a civil court in the hearing an appeal under the Code of Civil Procedure, 1908, on matters like summoning of any person, obtaining any public record or copy from any court and issuing commissions for examination of witnesses or documents.
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The appellate tribunal will
be assisted by the Customs department, central excise department and income-tax department during the proceedings.
According to the Fema Act, the tribunal will be required to entertain an appeal within 60 days.
It is proposed in the Act that the members will not be below the rank of a joint secretary to the Centre and the chairman is required to be a judge of the Supreme Court or of a high court.
Sources said the Cabinet may also discuss the terms and conditions of the chairman and the other members.
The powers of the tribunal may be exercised by a three member bench headed by the chairman.