NTF. NO. FEMA 107/2003-RB*, DT. 29/10/2003

Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2003

G.S.R. 900(E).- In exercise of the powers conferred by clause (a) of Sub-section (1) and Sub-section (3) of Section 7, 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 the 3rd May, 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, namely:–

1. Short title and commencement:

(I) These Regulations may be called the Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2003.

(ii) They shall come into force from the date of their publication in the Official Gazette of Government of India.

2. Amendment to the Regulations:

In the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 in Regulation 6, the sub-regulation ‘D’ shall be substituted with the following, namely:

“D Duplicate Declaration Forms to be retained with Authorised Dealers.

On the realisation of the export proceeds, the duplicate copies of export declaration forms viz. GR, PP and SOFTEX and Exchange Control copies of the shipping bills together with related Statutory Declaration Forms shall be retained by the Authorised Dealers.”

Sd/-
(Usha Thorat)
Executive Director

[F. No. 1/23/EC/2000-Vol.II]

Foot Note: The Principal regulations were published in the Official Gazette vide No. G.S.R. 409 (E) dated May 8, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended vide No. G.S.R. 199(E) dated March 21, 2001, No. G.S.R 473(E) dated July 8, 2002 and No. G.S.R 773(E) dated September 29, 2003.

(Above Foot Note has been added vide Corrigendum G.S.R. 798(E)-RB, DT. 27/11/2004)

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