FEMA Notification No. G.S.R. 33(E) dated the 15th January, 2003

International Credit Card Use Outside India

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 Reserve Bank, the Central Government having considered it necessary in the public interest, makes the following amendments 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) (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, after rule 6, the following rule shall be inserted, namely:-"

7. Use of International Credit Card while outside India. – Nothing contained in rule 5 shall apply to the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India."

Sd/-
Sanjiv Misra, 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 amended vide S.O. 301(E) dated 30th March, 2001.

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