5.36

(1) Goods, which are importable without restriction, can be transferred by sale or otherwise by the importer freely. Transfer of imported goods, which are subject to Actual User condition under the Policy and have become surplus to the needs of the Actual User, shall be made only with the prior permission of the licensing authority concerned. The following information alongwith supporting documents shall be furnished with the request for grant of permission for transfer, to the licensing authority concerned:

(i) Reasons for transfer of imported material;

(ii) Name, address, Importer Exporter Code No. and industrial licence/ registration, if any, of the transferee;

(iii) Description, quantity and value of the goods imported and those sought to be transferred;

(iv) Copies of import licence and bills of entry relating to the imports made;

(v)Terms and conditions of the transfer as agreed upon between buyer and the seller.

(2) Prior permission of the licensing authority shall not, however, be necessary for transfer or disposal of goods, which were imported with Actual User condition provided such goods are freely importable without Actual User condition on the date of transfer.

(3) Prior permission of the licensing authority shall also not be required for transfer or disposal of imported goods after a period of two years from the date of import.