Foreign Trade (Regulation) Rules, 1993 — Definitions

Official text

In these rules, unless the context otherwise requires,—

(a) "Act" means the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992);

(b) "charitable purpose" includes relief of the poor, education, medical relief, and the advancement of any other object of general public utility;

(c) "importer" or "exporter" means a person who imports or exports goods or services or technology and holds a valid Importer-exporter Code Number granted under section 7;

(d) "licensing authority" means an authority authorised under sub-section (2) of section 9 to grant or renew a licence, certificate, scrip or any instrument bestowing financial or fiscal benefits under these rules;

(e) "Policy" means the foreign trade policy formulated and announced by the Central Government under section 5;

(f) "section" means a section of the Act;

(g) "special licence" means a licence granted under sub-section (2) of section 8;

(h) "value" has the meaning assigned to it in clause (41) of section 2 of the Customs Act, 1962 (52 of 1962);

(i) words and expressions used in these rules and not defined but defined in the Act shall have the meanings respectively assigned to them in the Act.