RESERVE
BANK OF INDIA
(FOREIGN EXCHANGE DEPARTMENT)
(CENTRAL OFFICE)
G.S.R.279(E) dated April 23, 2004
- Part II - Section 3 - Sub-section (i)
Notification
No.FEMA.114/2004-RB dated
13 March , 2004 Foreign
Exchange Management (Export of Goods and Services)
(Amendment) Regulations, 2004 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 3rd May 2000, as amended from time to time, the
Reserve Bank of India makes the following amendment in the Foreign Exchange Management
(Export of Goods and Services) Regulations, 2000, namely :
1. Short title and commencement
a. The
regulations may be called the Foreign Exchange Management (Export of Goods and
Services) (Amendment) Regulations, 2004.
b. They shall come into force from the date of their
publication in the Official Gazette.
2. Amendment to the Regulations
In
the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000,
in Regulation 17, the following amendments shall be made, namely :- (i) in
sub-regulation (1), for clause (b) the following shall be substituted, namely
: '(b) that any declaration to be furnished to the specified authority shall be
submitted to the authorised dealer for its prior approval, which may, having regard
to the circumstances, be given or withheld or may be given subject to such conditions
as may be specified by the Reserve Bank by directions issued from time to time.' (ii) for
sub-regulation (2), the following shall be substituted, namely : '(2)
No direction under sub-regulation (1) shall be given by the Reserve Bank and no
approval under clause (b) of that sub-regulation shall be withheld by the Authorised
Dealer, unless the exporter has been given a reasonable opportunity to make a
representation in the matter.'
Shyamala Gopinath
Executive Director
Foot Note :The Principal
Regulations were published in the Official Gazette vide G.S.R.No.409(E) dated
May 3, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended vide
a) G.S.R.No.199(E)
dated February 27, 2001, b)
473(E) dated April 1, 2002, c)
773(E) dated August 27, 2003, and d)
900(E) dated October 29, 2003.
Published in the Official Gazette of Government
of India - Extraordinary - Part-II, Section 3,
Sub-Section (i) dated 23.04.2004 - G.S.R.No.279(E)
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