GSR - In exercise of the powers conferred by sub-clause (iii) of clause (c) of section 28E of the Customs Act,1962( 52 of 1962), the Central Government hereby specifies “resident public limited company” as class of persons for the purposes of said clause.

Explanation.— For the purposes of this notification.-

(1) “public limited company” shall have the same meaning as is assigned to “public company” in clause (iv) of sub-section (1) of section 3 of the Companies Act , 1956 ( 1 of 1956) and shall include a private company that becomes a public company by virtue of section 43A of the said Companies Act, 1956;

(2) “resident” shall have the same meaning as is assigned to it in clause (42) of section 2 of the Income-tax Act, 1961 ( 43 of 1961) in so far it applies to a company.

[F. No 275/47/2009-CX8A]

( G D Lohani)
Director, Government of India