Foreign Exchange Management Act Notification

Corrigendum

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Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2019

RESERVE BANK OF INDIA
FOREIGN EXCHANGE DEPARTMENT
CENTRAL OFFICE
MUMBAI 400 001

Notification No. FEMA 23(R)/(2)/2019-RB

December 09, 2019

Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2019

In exercise of the powers conferred by clause (a) of sub-section (1), sub-section (3) of section 7 and clause (b) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 [Notification No. FEMA 23(R)/2015- RB dated January 12, 2016] (hereinafter referred to as 'the Principal Regulations'), namely:

1. Short title and commencement: -

  1. These Regulations may be called the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2019.

  2. They shall come into force from the date of their publication in the official Gazette.

2. In the Principal Regulations, in regulation 4, after sub-regulation (e), the following shall be inserted, namely :-

“(ea) re-export of leased aircraft/ helicopter and/or engines/auxiliary power units (APUs) re-possessed by overseas lessor and duly de-registered by the Directorate General of Civil Aviation (DGCA) on the request of Irrevocable Deregistration and Export Request Authorisation (IDERA) holder under ‘Cape Town Convention’ subject to permission by DGCA/Ministry of Civil Aviation for such export/s.”

(R.K.Moolchandani)
Chief General Manager


Foot Note: - The Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 [Notification No. FEMA 23(R)/2015- RB dated January 12, 2016] were published in the Official Gazette vide G.S.R.No.19 (E) dated January 12, 2016 in Part II, Section 3, sub-Section (i), amended vide G.S.R. No. 635(E) dated June 23, 2017 and subsequently amended as under:

Published in the Official Gazette of Government of India – Extraordinary – Part-III, Section 4 dated December 09, 2019.

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