Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2019 - FEMA 23(R)/(2)/2019-RB - Foreign Exchange Management

RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 3rd December, 2019 Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2019 No. FEMA 23(R)/(2)/2019-RB. -In exercise of the powers conferred by clause (a) of sub-section (1), sub-section (3) of section 7 and clause (b) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Export of Goods Services) Regulations, 2015 [ Notification No. FEMA 23(R)/2015- RB dated January 12, 2016 ] (hereinafter referred to as the Principal Regulations ), namely: 1. Short title and commencement: - i. These Regulations may be called the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2019. ii. They shall come into force from the date of their publication in the official Gazette. 2. In the Principal Regulations , in regulation 4, after sub-regulation (e), the following shall be inserted, namely :- (ea) re-export of leased aircraft/ helicopter and/or engines/auxiliary power units (APUs) re-possessed by overseas lessor and duly de-registered by the Directorate General of Civil Aviation (DGCA) on the request of Irrevocable Deregistration and Export Request Authorisation (IDERA) holder under Cape Town Convention subject to permission by DGCA/Ministry of Civil Aviation for such export/s. R. K. MOOLCHANDANI, Chief General Manager [ADVT.-III/4/Exty./339/19] Foot Note: The Foreign Exchange Management (Export of Goods Services) Regulations, 2015 [ Notification No. FEMA 23(R)/2015- RB dated January 12, 2016] were published in the Official Gazette vide G.S.R. No.19 (E) dated January 12, 2016 in Part II, Section 3, sub-Section (i) and subsequently amended vide G.S.R. No. 635(E) dated June 23, 2017.