Notification No. 9 dated 25th July 1997
In exercise of powers conferred by section 5 of the foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002 published in the Gazette of India Extraordinary, Part-II section 3-sub - section (ii) vide S.NO. 283 (E) dated 31.3.97, the central Government hereby makes following amendments in the Export and Import Policy, 1997- 2002. 1. The paragraph 8.32 shall be corrected to read as follows: 8.32 Re -export/ supply of dead-stock or broken stones/ rough diamonds upto 5% of the value of import/ indigenously procured such items to holder of valid REP/ Diamond Imprest Licence may be allowed by the Development commissioner of the EPZ/ EOU concerned. 2. The paragraph 8.36 shall be amended to read as follows:
8.36 EOU/ EPZ units are also permitted to sell 10% of value of exports of the preceding year to DTA provided the recipient furnishes a freely transferable Special Import Licence for clearance of such item from EOU/ EPZ units and applicable duty is paid in free foreign exchange from the EEFC account of either the buyer of the EOU/ EPZ units. Such supply shall, however, be subject to the achievement of prescribed value addition. 3. In the paragraph 12.9, the second sentence on the expiry of such certificate, application for renewal of status certificate shall be required to be made within a period of six months' shall be amended to read as under: 'On the expiry of such certificate, application for renewal of status certificate shall be required to be made within the period as prescribed in Handbook of Procedures (Vol. 1) This issues in public interest.