NTF. NO. FEMA GSR 849(E)-RB, DT. 27/10/2003

Foreign Exchange Management (Current Account Transactions) Rules, 2000

In exercise of the powers conferred by Section 5 and Sub-section (1) and clause (a) of Sub-section (2) of Section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in consultation with the Reserve Bank, the Central Government having considered it necessary in the public interest, makes the following amendment in the Foreign Exchange Management (Current Account Transactions) Rules, 2000, namely:-

1. Short title and Commencement.-

(1) These rules may be called the Foreign Exchange Management (Current Account Transaction) (Fourth Amendment) Rules, 2003.

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

2. In the Foreign Exchange Management (Current Account Transaction) Rules, 2000, in Schedule II, under the heading "purpose of Remittance", in item 4, after the words "Payment of import" the words "through ocean transport" shall be inserted.

Sd/-
(U.K. Sihna),
Jt. Secy.

[F. No. 1/5/EC/2000-Vol.II]

Foot Note:- The principal rules were published in the Official Gazette vide G.S.R. 381(E) dated 3rd May, 2000 in Part II, Section 3, Sub-section (i) and subsequently last amended vide No. G.S.R. 731(E) dated 5th September, 2003.

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