Ministry of Commerce and Industry, through a recent notification dated 14th March 2024, has introduced amendments to the Special Economic Zones (SEZ) Rules of 2006 vide Special Economic Zones (Second Amendment) Rules, 2024. These changes, enacted under section 55 of the Special Economic Zones Act, 2005, signify a strategic move by the Central Government to refine regulations governing SEZs.
The primary modification outlined in the notification focuses on rule 21B of the SEZ Rules, 2006. Previously, the rules pertained solely to “aircraft leasing.” However, in a notable alteration, the term “aircraft leasing” has been broadened to include “aircraft or ship leasing.” This adjustment expands the scope of permissible activities within SEZs, catering to the evolving needs of the industry.
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MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
NOTIFICATION
New Delhi, the 14th March, 2024
G.S.R. 194(E).—In exercise of the powers conferred by section 55 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely: –
1. (1) These rules may be called the Special Economic Zones (Second Amendment) Rules, 2024.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Special Economic Zones Rules, 2006, in rule 21B, for the words “aircraft leasing”, wherever they occurs, the words “aircraft or ship leasing” shall be substituted.
[F. No. K-43013(12)/1/2022-SEZ]
VIPUL BANSAL, Jt. Secy.
Note.- The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i), vide notification number G.S.R. 54(E), dated the 10th February, 2006 and lastly amended vide notification number G.S.R. 105(E), dated the 5th February, 2024.
