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Foreign Trade (Development and Regulation) Act,1992 2. Definitions.— In these rules unless the context otherwise requires,- (a) "Act" means the Foreign trade (Development and Regulation ) Act 1992 (22of 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 and holds a valid Importer exporter Code Number granted under section 7; (d) "Licensing authority" means an authority authorized by the Director General under sub section (2) of section 9 to grant or renew a license under these rules; (e) "Policy" means export and import Policy formulated and announced by the Central Government under section 5; (f) "Schedule" means a Schedule appended to these rules; (g) "Schedule" means a section of the Act; (h) "Special license" means a license granted under sub section (2) of section 8; (i) "Value" has the meaning assigned to it in clause (41) of section 2 of the Customs Act, 1962 (52 of 1962); (j) Words and expression used in these rules and not defined but defined in the Act shall have the meanings respectively assigned to them in the Act.    |
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