PN 32/1998 (RE-98)

ADVANCE COPY   (TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-1, SECTION-1)     GOVERNMENT OF INDIA MINISTRY OF COMMERCE     PUBLIC NOTICE NO. 32 , (PN)/1997­2002,NEW DELHI; DATED THE 24th AUGUST, 1998   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-II Section 3 – Sub-Section (ii) vide S.O.No. 283(E) dated 31.3.1997 the Director General of Foreign Trade hereby makes the following amendments in the Hand- Book of Procedures (Vol.1), 1997-2002:  

1. Paragraph 8.19 of the Hand-Book of Procedures (Vol.1), 1997-2002 shall be amended to read as follows :   "The Licensing Authority may grant extension in export obligation period for a period of four months against one or more consignment/sight on payment of penalty of 1%

on the unfulfilled fob value of export obligation with reference to cif value of the imports made for which extension is being sought. Any request for extension beyond a period of four months can be considered only by a Committee headed by Director General of Foreign Trade.   2. This issues in public interest.     Sd/­ (N.L.LAKHANPAL) DIRECTOR GENERAL OF FOREIGN TRADE   Copy to all concerned; By order etc.;   (L.B.SINGHAL) DY. DIRECTOR GENERAL OF FOREIGN TRADE ( F.No. 1/296/97-PC-II)