Advance Licences -Endorsement of Transferability - DGFT - 62 /(RE PN) 1997-2002

Advance Licences -Endorsement of Transferability Public Notice No. 62 PN 1997-2002 dated the 31st December, 1997 In exercise of powers conferred under paragraph 4.11 of the Export and Import Policy, 1997-2002 as notified in the Gazette of India extraordinary, Part-11 Section 3- Sub-Section (ii) vide S.O. No. 283(E) dated 31.3.99, the Director General of Foreign Trade hereby notify the following arrangement: - "In respect of Advance Licences issued as per Exim Policy 1992-97, wherever export obligation against such cases has been completed on or before 31st December, 1997 (date of export as defined, in paragraph 15.16, renumbered as 15.15 of Handbook of Procedure (Vol. I), 97-2002) but the exporters have not been able to submit the required documents for taking endorsement of transferability in terms of paragraph 7.27(iii) of Handbook of Procedure (Vol. I), 97-2002 because of difficulties in completing the DEEC Book logging and other procedural formalities, in such cases the licence and DEEC Book should be accepted for endorsement of transferability wherever admissible, in terms of Paragraph 7.27 of Handbook of Procedures (Vol. I) even if the validity of the licence has already expired and benefit of transferability should be granted wherever admissible. Exporters are advised to file such requests with the concerned Licensing Authority latest by 20th February, 1998, after completion of logging and all formalities as required under Exim Policy/Procedures. Licensing Authorities shall thereafter complete the formalities for endorsement of transferability latest by 31st March, 1998." This issues in public interest. Sd/- (N.L. Lakhanpal) Director General of Foreign Trade