Guarantee permissions for foreign airlines and IATA authorised on behalf of IATA approved travel agents clarified by amendment. Amendment permits issuance of guarantees in favour of foreign airlines and the International Air Transport Association (IATA) on behalf of IATA approved travel agents, inserting an express proviso into the Foreign Exchange Management (Guarantees) Regulations, 2000 that clarifies guarantees may lawfully be given to secure obligations of IATA-approved travel agents.
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Provisions expressly mentioned in the judgment/order text.
Guarantee permissions for foreign airlines and IATA authorised on behalf of IATA approved travel agents clarified by amendment.
Amendment permits issuance of guarantees in favour of foreign airlines and the International Air Transport Association (IATA) on behalf of IATA approved travel agents, inserting an express proviso into the Foreign Exchange Management (Guarantees) Regulations, 2000 that clarifies guarantees may lawfully be given to secure obligations of IATA-approved travel agents.
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