Define the term 'person' under Section 3(42) of the General Clauses Act, 1897, and discuss its relevance in interpreting the term 'person' as used…

Definition under section 3(42) of the General Clauses Act, 1897: Under section 3(42) of the General Clauses Act, 1897, 'person' is defined in an inclusive manner to include any company, association, or body of individuals, whether incorporated or not. This is a general, residuary definition meant to apply to any Central Act or Regulation where the term 'person' is used but not separately defined, unless the context otherwise requires. Relevance to Foreign Exchange Management Act (FEMA), 1999: The FEMA, 1999 does not borrow this definition as such it contains its own specific and wider definition of 'person' under Section 2(u) of the FEMA, 1999, which exhaustively includes an individual, a Hindu Undivided Family, a company, a firm, an association of persons or a body of individuals whether incorporated or not, every artificial juridical person not falling within any of the preceding categories, and any agency, office or branch owned or controlled by such person. Since FEMA's definition already covers "every artificial juridical person" and "body of individuals whether incorporated or not," it is largely self-contained. The General Clauses Act's definition becomes relevant only in a residual, interpretive sense to clarify the juristic character of an entity.