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Section 2 – FOREIGN TRADE (REGULATION) RULES,1993

2. Definitions

In these rules, unless the context otherwise requires,-

(a) “Act”, means the Foreign Trade (Development and Regulation) Act, 1992 (22 of 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 authorized by the Director-General under sub-section (2) of section 9 to grant or renew a license under these rules;

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

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

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

(h) “special license”, means a license 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 expressions 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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