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EXTRAORDINARY

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PART II—Section 3—Sub-section (ii)

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PUBLISHED BY AUTHORITY

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5302 GI/2013

(1)

2

THE GAZETTE OF INDIA : EXTRAORDINARY

[PART II—SEC. 3(ii)]

MINISTRY OF COMMERCE AND INDUSTRY

(Department of Commerce)

(DIRECTORATE GENERAL OF FOREIGN TRADE)

NOTIFICATION

New Delhi, the 18th December, 2013

No. 58 (RE-2013)/2009—2014

Subject: Amendment in Para 9.28 of Foreign Trade Policy, 2009—2014.

S.O. 3722 (E).— In exercise of powers conferred under Section 5 of the Foreign Trade (Development and

Regulation) Act, 1992 read with paragraph 1.3 of the Foreign Trade Policy, 2009—2014, as amended from time to

time, the Central Government hereby notifies the following amendment in the Para 9.28 of Foreign Trade Policy,

2009—2014:

2.

The definition of “Group Company” in Para 9.28 of Foreign Trade Policy, 2009—2014 is amended to read as

under:

“Group Company” means two or more enterprises which, directly or indirectly, are in a position to :—

(a) exercise twenty-six per cent or more of voting rights in other enterprise; or

(b) appoint more than fifty per cent of members of board of directors in the other enterprise.

The term ‘Enterprise’ used above would include (i) Public Limited Company, (ii) Private

Limited Company and (iii) Limited Liability Partnership (LLP), but not a partnership firm or

a proprietorship firm.

For group companies to claim benefits or have their exports counted for benefits to be claimed by another

member of group, the group company should have been in existence at least 2 years prior to date of application

under any of export promotion schemes notified in FTP.

3.

Effect of this Notification:

Para 9.28 of FTP has been amended to include Limited Liability Partnerships (LLPs) in the definition of

“Group Company”. Neither partnership nor proprietorship firm would come within the ambit of definition of a “Group

Company”.

[ F. No. 01/93/180/58/AM-09/PC-2(B) Part]

ANUP K. PUJARI, Director General of Foreign Trade

Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064

and Published by the Controller of Publications, Delhi-110054.