Amendment to Notification No. 266/86-Cus. [Ch. 37] - 253/88 - Customs -Tariff

Amendment to Notification No. 266/86-Cus. [ Ch. 37] Notification No. 253/88-Cus. Dated 16-9-1988 In exercise of the powers conferred by sub-section (1) of Section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 266/86-Customs, dated the 28th April, 1986, namely :- In the said notification, for the proviso, the following proviso and Explanation shall be substituted, namely :- "Provided that the exemption contained in this notification shall apply only if, - (a) the importer undertakes processing of the said jumbo films by slitting or confectioning into colour cine films; (b) the importer holds an industrial licence under the Industries (Development and Regulation) Act, 1951 (65 of 1951), for slitting and confectioning of photo-sensitised materials from the said jumbo rolls; and (c) the importer furnishes an undertaking to the effect that he shall pay, on demand, in the event of his failure to comply with (a) above, an amount equal to the difference between the duty leviable on such quantity of the said jumbo rolls but for the exemption contained herein and that already paid at the time of importation. Explanation :- For the purpose of this notification, the expression "colour jumbo films" means colour films of width one metre or more and of length 400 metres or more.".