Rule 2 – The Foreign Trade (Development and Regulation) Act,1992

The Foreign Trade (Development and Regulation)

 

2. Definitions.—

 

In these rules unless the context otherwise requires,-

 

(a) “Act” means the Foreign trade (Development and Regulation ) Act 1992 (22of 1992);

 

(b) “Charitable purpose” includes relief of the poor, education, medical relief, and the advancement of any other object of general public utility;

 

(c) “Importer ” or “exporter” means a person who imports or exports goods and holds a valid Importer exporter Code Number granted under section 7;

 

(d) “Licensing authority” means an authority authorised by the Director General under sub section (2) of section 9 to grant or renew a licence under these rules;

 

(e) “Policy” means export and import Policy formulated and announced by the Central Government under section 5;

 

(f) “Schedule” means a Schedule appended to these rules;

 

(g) “Schedule” means a section of the Act;

 

(h) “Special licence” means a licence granted under sub section (2) of section 8;

 

(i) “Value” has the meaning assigned to it in clause (41) of section 2 of the Customs Act, 1962 (52 of 1962);

 

(j) Words and expression used in these rules and not defined but defined in the Act shall have the meanings respectively assigned to them in the Act.

 

 

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The Foreign Trade (Development and Regulation) Act,1992

 

Indian Laws – Bare Acts

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