[A.P.(DIR
Series) Circular No.97 dated June 21, 2004]
RESERVE
BANK OF INDIA
EXCHANGE CONTROL DEPARTMENT
CENTRAL OFFICE
MUMBAI 400 001
Notification
No.FEMA.99/2003-RB
dated August 27, 2003
Foreign
Exchange Management (Export of Goods & Services)
(Amendment)
Regulations, 2003
In exercise of the powers conferred by clause (a) of sub-section
(1), sub-section (3) of Section 7 and sub-section (2) of Section 47 of the Foreign
Exchange Management Act, 1999 (42 of 1999) and in partial modification of its
Notification
No.FEMA.23/2000-RB dated May 3, 2000 and Notification
No.FEMA.36/2001-RB dated February 27, 2001, Reserve Bank makes the following
amendment in the Foreign Exchange Management (Export of Goods and Services)
Regulations, 2000, as amended from time to time, namely :
1. Short title and
commencement
(i) These Regulations
may be called the Foreign Exchange Management (Export of Goods and Services) (Amendment)
Regulations, 2003.
(ii) They shall
come into force from the date of their publication in the Official Gazette.
2. Amendment
to the Regulations
In the Foreign
Exchange Management (Export of Goods and Services) Regulations, 2000, in Regulation
9,
(i) in sub-regulation (1),
before the existing first proviso, the proviso shall be added as under, namely
:.
'Provided that where the goods
or software are exported by the units in Special Economic Zones, the stipulation
of period of realisation and repatriation to India of full export value of goods
or software shall not apply'.
(ii) In
sub-regulation (2), in clause (a), the words, 'by a unit situated in a Special
Economic Zone or' may be deleted.
(iii) In
sub-regulation (2), in clauses (b) and (c), for the words 'unit', the word, 'the
said exporter/s' shall be substituted.
(
Usha Thorat )
Executive Director