PN No.32(RE-98)1997-2002 Dated 24-08-1998,

Gems and Jewellary Scheme

In exercise of powers conferred under Paragraph 4.11 of the Export and Import Policy, 1997-2002, as notified in the Gazette of India extraordinary, Part-II Section 3 - Sub-Section (ii) vide S.O.No. 283(E) dated 31.3.1997 the Director General of Foreign Trade hereby makes the following amendments in the Hand-Book of Procedures (Vol.1), 1997-2002:

1. Paragraph 8.19 of the Hand-Book of Procedures (Vol.1), 1997-2002 shall be amended to read as follows :

"The Licensing Authority may grant extension in export obligation period for a period offour months against one or more consignment/sight on payment of penalty of 1% on the unfulfilledfob value of export obligation with reference to cif value of the imports made for which extension is being sought. Any request for extension beyond a period of four months can be considered only by a Committee headed by Director General of Foreign Trade.

2. This issues in public interest.

Sd/-
(N.L.LAKHANPAL)
DIRECTOR GENERAL OF FOREIGN TRADE

(F.No. 1/296/97-PC-II)

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