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<h1>Finance Bill 2017: Amendments to Customs Act Define 'Beneficial Owner,' Update Terms for Courier Terminals and Post Offices</h1> Clause 88 of the Finance Bill, 2017, proposes amendments to section 2 of the Customs Act, 1962. It introduces the definition of 'beneficial owner' in clause (3A) and updates the terminology in clause (13) to include 'international courier terminal' and 'foreign post office.' The amendment also revises clauses (16), (20), and (26) to incorporate 'beneficial owner' and introduces definitions for 'foreign post office' in clause (20A), 'international courier terminal' in clause (28A), and 'passenger name record information' in clause (30B). These changes aim to clarify and expand the scope of the Customs Act.