[A.P.(DIR Series) Circular No.97
dated June 21, 2004]

Notification No.FEMA.107/2003-RB

dated October 29, 2003

Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2003

In exercise of the powers conferred by clause (a) of sub-section (1) and sub-section (3) of Section 7, sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No.FEMA.23/2000-RB dated 3^rd May 2000, the Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, namely :

(i) These Regulations may be called the Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2003.

(ii) They shall come into force from the date of their publication in the Official Gazette of Government of India.

In the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, in Regulation 6, the sub-regulation 'D' shall be substituted with the following, namely;

'D. Duplicate Declaration Forms to be retained with Authorised Dealers

On the realisation of the export proceeds, the duplicate copies of export declaration forms viz. GR, PP and SOFTEX and Exchange Control copies of the shipping bills together with related Statutory Declaration Forms shall be retained by the Authorised Dealers.'