Amendments were made to Foreign Exchange Management (Current Account Transaction) Rules 2000 pertaining to provisions relating to 'Purpose of Remittance' in Schedule II. The amendments were made effective from 29 October 2003 - G.S.R. 849(E) - Foreign Exchange Management

Dated : 27 th October 2003 G.S.R. 849(E).- In exercise of the powers conferred by Section 5 and Sub-section (1) and clause (a) of Sub-section I (2) of Section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999) ,and in consultation with the Reserve Bank, the Central Government having considered it necessary in the public interest, makes the following amendment in the Foreign Exchange Management (Current Account Transactions) Rules, 2000 , namely: - 1. Short title and Commencement.- (1) These rules may be called the Foreign Exchange Management (Current Account Transaction) (Fourth Amendment) Rules, 2003. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Foreign Exchange Management (Current Account Transactions) Rules, 2000 , in Schedule II, under the heading purpose of Remittance , in item 4, after the words Payment of import the words through ocean transport shall be inserted. [F.No.l/5/EC/2000-Vol.II]