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TMI BlogAmendments to Notification No. 513/86-Cus. - G.E. No. 43X X X X Extracts X X X X X X X X Extracts X X X X ..... he Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 513/86-Customs, dated the 30th December, 1986, namely :- In the said notification, — (a) In the first paragraph - (i) for the words "raw material, com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be substituted; (iv) in condition (2), - (A) in clause (a), for the words "raw materials, components, intermediates, consumables, parts other than spares, and packing materials", the word "materials" shall be substituted; (B) in clause (b), for the words "raw materials, components, intermediates, consumables, parts other than spares and packing materials allowed to be imported", the words " ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hority of India Limited or the Oil India Limited, as the case may be, and that no portion of such materials shall be loaned, transferred, sold or disposed of in any other manner : Provided that where obligations under the licence have been fully discharged, sale proceeds realised, and bond ex ecuted in terms of condition (3) redeemed by the licensing authority, the importer may, if the benefit o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 56A or rule 57A of Central Excise Rules, 1944 has been obtained; and (iii) where the licence has been issued prior to 1-4-1992. (c) The following Explanation shall be added at the end, namely :- "Explanation. — in this notification - (i) "licensing authority" means the Director General of Foreign Trade appointed under section 6 of the Foreign Trade (Development and Regulation) Act, 1992 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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