January 08, 2021
Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021
- 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: –
- i. These Regulations may be called the Foreign Exchange Management (Export of Goods and
Services) (Amendment) Regulations, 2021.
ii. They shall come into force from the date of their publication in the official Gazette.
- i. These Regulations may be called the Foreign Exchange Management (Export of Goods and
- 2. In the Principal Regulations, in regulation 4, for sub-regulation (ea), the following shall be substituted, namely:-
- “(ea) re-export of leased aircraft/helicopter and/or engines/auxiliary power units (APUs), either completely or in partially knocked down condition repossessed 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’ or any other termination or cancellation of the lease agreement between the lessor and lessee subject to permission by DGCA/Ministry of Civil
Aviation for such export/s.”
- “(ea) re-export of leased aircraft/helicopter and/or engines/auxiliary power units (APUs), either completely or in partially knocked down condition repossessed 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’ or any other termination or cancellation of the lease agreement between the lessor and lessee subject to permission by DGCA/Ministry of Civil
(R. S. Amar)
Chief General Manager
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http://bit.ly/Rbi-Foreign-Exchange-Management-Regulations-2021