Define the term 'authorised person' under the Foreign Exchange Management Act, 1999 and state the powers of the Reserve Bank of India to issue directions to an 'authorised person'.

As per Section 2(c) of the Foreign Exchange Management Act, 1999, "authorized person" means an authorized dealer, money changer, off-shore banking unit or any other person for the time being authorized under sub-section (1) of section 10 to deal in foreign exchange or foreign securities. Section 11 of the Foreign Exchange Management Act, 1999 empowers the Reserve Bank of India to issue directions to the authorised person in regard to making of payment or doing or desist from doing any act relating to foreign exchange or foreign security. Reserve Bank has also been empowered to issue directions to the authorised persons to furnish such information in such manner as it deems fit. If any authorised person contravenes any direction given by the RBI or fails to file the return as directed by RBI, he may be liable to a fine not exceeding ₹10,000/- and in the case of continuing contravention, with an additional penalty which may extend to ₹2,000 for every day during which such contravention continues.