Section 120 - Amendment of section 3 - Finance Act, 2001

Excise 120. Amendment of section 3 In the Central Excise Act, 1944 (hereinafter referred to as the Central Excise Act), in section 3, in sub-section (1),- (a) in the proviso,- (i) in clause (i), for the words free trade zone , the words free trade zone or a special economic zone shall be substituted; (ii) in clause (ii), for the words allowed to be sold in India , the words brought to any other place in India shall be substituted; (b) in Explanation 2, after clause (ii), the following clause shall be inserted, namely:- (iii) special economic zone means a zone which the Central Government may, by notification in the Official Gazette, specify in this behalf. .