Bank Guarantee Condition for Transshipment

[Customs Notification No. 115 (Non Tariff) dated 26^th August 2016]

In exercise of the powers conferred by sub-section (2) of section 141 read with section 157 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations to further amend the Handling of Cargo in Customs Areas Regulations, 2009, namely:-

1. (1) These regulations may be called the Handling of Cargo in Customs Areas (Amendment) Regulations, 2016.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Handling of Cargo in Customs Areas Regulations, 2009 (hereinafter referred to as ‘the said regulations’), in regulation 5, namely:-

a) in sub-regulation (3), for the word “thirty”, the word “ten” shall be substituted:

b) in sub-regulation (4), the following proviso shall be inserted, namely:-

“Provided that the condition of furnishing of bank guarantee shall not be applicable to ports notified under the Major Ports Act, 1962 (38 of 1963) or to the Central Government or State Governments or their undertakings or to the customs cargo service provider authorised under Authorised Economic Operator Programme.”

[F. No. 450/114/2015-Cus IV]