• Fri. Nov 22nd, 2024

Notification ,RBI, 2021 , Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations,2021

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Jan 25, 2021 #RBI

January 08, 2021

Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021

  1. 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. 1. Short title and commencement:
    1. 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.
  1. 2. In the Principal Regulations, in regulation 4, for sub-regulation (ea), the following shall be substituted, namely:-
    1. “(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.”

(R. S. Amar)
Chief General Manager

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http://bit.ly/Rbi-Foreign-Exchange-Management-Regulations-2021

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