The Gazette of India
EXTRAORDINARY
PART II—Section 1
PUBLISHED BY AUTHORITY
No. 50 ] NEW DELHI, THURSDAY, NOVEMBER 13, 1969/KARTIKA 22, 1891
Separate paging is given to this Part in order that it may be filed as a
separate compilation
MINISTRY OF LAW
(Legislative Department)
New Delhi, the 13th November, 1969/Kartica 22, 1891 (Saka)
THE FOREIGN EXCHANGE REGULATION (AMENDMENT) ORDINANCE, 1969
No. 9 OF 1969
Promulgated by the President in the Twentieth Year of the
Republic of India.
An Ordinance further to amend the Foreign Exchange Regulation Act, 1947.
WHEREAS Parliament Is not in session and the President is satisfied that circumstances exist which render it necessary for him to take immediate action;
Now, THEREFORE, in exercise of the powers conferred by clause (1) of article 123 of the Constitution, the President is pleased to promulgate the following Ordinance: —
3 78 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SEC. 1Act 7 of 1947 to be temporarily amended.
3. During the period of operation of this Ordinance, the Foreign Exchange Regulation Act, 1947\
§. In section 12 of the principal Act, for sub-section (1), the following subsection shall be substituted, namely: —
Amendment of section 12.
'(TjklXhe central liovernment may, &y nouncanaa-. m tne urnciai uazette, prohibit the taking or sending out by land, sea or air (hereafter in this section referred to as export) of all goods or of any goods or class of goods specified in the notification from India directly or indirectly to any place so specified unless the exporter furnishes to the prescribed, authority a declaration in the prescribed form supported by such evidence as may be prescribed or so specified and true in all material particulars which, among others, shall include the amount representing—
(i) the full export value of the goods; or
(ii) if the export value of the goods is not ascertainable at the time of export, the value which the exporter, having regard to* the prevailing market conditions, expects to receive on the jsaj^gf \he goods in the course of international trade,
and affirms in the said declaration that the full export value of the rgoodg'Of in a case'falling under clause (ii), the full Value for which the goods are sold has been, or will within the prescribed period be, paid 'in the prescribed manner."'.
Amendment of section 23A
4. In section 23A of the principal Act, for the words, brackets and figures "the restrictions imposed by sub-sections (1) and (2) of section 8", the words, brackets and figures "the restrictions imposed by or under sub-sections (1) and (2) of section 8" shall be substituted.
V. V. GIRI,
President.
N. D. P. NAMBOODIRIPAD,