The Ministry of Commerce and Industry issued Notification No. 19 (RE-2006)/2004-2009 on 4th July 2006, amending Notification No. 15 dated 27th June 2006 under the Foreign Trade Policy 2004-2009. Exercising powers under Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, the government added a clarification to para 3 of the earlier notification. It states that transitional arrangements under para 1.5 of the Foreign Trade Policy, 2006 will not apply to the export of pulses against irrevocable Letters of Credit (LCs) opened on or after 22nd June 2006. This is because the government’s decision to prohibit the export of pulses was widely publicised on that date through electronic and print media. The notification, issued in public interest, aims to prevent circumvention of the export ban through newly opened LCs after the announcement date. The order was signed by K.T. Chacko, Director General of Foreign Trade and Ex-Officio Additional Secretary to the Government of India.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE & INDUSTRY
DEPARTMENT OF COMMERCE
NOTIFICATION NO. 19 (RE-2006)/2004-2009
NEW DELHI, the 4th July, 2006
S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009 , the Central Government hereby makes the amendments in para 3 of Notification No 15 dated 27th June 2006 , to include the following sentence, at the end of the said para :-
“ Further the transitional arrangements notified under para 1.5 of the Foreign Trade Policy ,2006 shall not be applicable for export of pulses against irrevocable Letters of Credit opened on or after 22.6.2006 as the decision of the Government prohibiting the export of pulses was announced and got widely publicised on 22.6.2006 in the electronic and print media .”
2. This issues in Public interest.
(K. T. CHACKO)
DIRECTOR GENERAL OF FOREIGN TRADE
AND EX-OFFICIO ADDITIONAL SECRETARY TO THE GOVT. OF INDIA
(Issued from File No.01/91/180/ 304/AM07/PC-III)
