Section 37: Obligations to be joint and several.
(1) Any provision however worded of this Act, the effect of which is to prohibit the doing of any act if a person to or by whom the act is to be done or who stands in a specified relation to any property possesses any specified attribute as to residence or otherwise howsoever, shall where the act is done to or by two or more persons or, as the case may be, two or more persons stand jointly in that relation to the property, operate to prohibit the doing of that act if any of those persons possess the attribute.
(2) Where any provision of this Act imposes an obligation on any person to do an act if he possesses any specified attribute as to residence or otherwise howsoever, that provision shall, in relation to any act which can only be done by two or more persons possessing that attribute, operate to impose a joint obligation on all of those persons to do the act.
Cite this section
Section 37, EXCHANGE CONTROL ACT (1962).
https://repo.podus.ai/laws/exchange-control-act/section/37/