TaxTMI 
TaxTMI 
Special Economic Zones (Amendment) Rules, 2007
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....proviso shall be deleted. (ii) in clause (b), for the words "A Special Economic Zone for a specific sector or in a port or airport," the words "A Special Economic Zone for a specific sector or for one or more services or in a port or airport" shall be substituted; (iii) after clause (c), the following clause shall be added, namely:- "(d) If a Developer subsequent to approval or notification of a Special Economic Zone acquires more contiguous and vacant land which makes the total area available, including the area already notified as Special Economic Zone, more than the minimum area required for another class of SEZ, the Board may consider such cases on a case to case basis for allowing conversion to another class of Special Economic Zone by subsuming such already approved or notified Special Economic Zone.". 4. In the principal rules, in rule 6, - (i) for sub-rule (1), the following shall be substituted, namely:- "(1) The Central Government shall, within a period of thirty days of the communication received by it under clause (a) or clause (b) of Sub-section (9) of Section 3 of the Act grant following approvals:- (a) formal a....
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.... (2), the words, brackets and figures "subject to third proviso to clause (a) of sub-rule (2) of rule 5" shall be deleted. (iii) in sub-rule (2), the following proviso shall be inserted: "Provided that the Board may relax any or all of the conditions, except the condition regarding identified area to be a vacant land, specified in this sub-rule on a case to case basis on merits for reasons to be recorded in writing and with such conditions as the Board may decide.". 6. In the principal rules, in rule 11, - (i) for sub-rule (2), following shall be substituted, namely:- "(2) The processing area and Free Trade and Warehousing Zone shall have specified entry and exit points and be fully secured by taking such measures as approved by the Board of Approval.". (ii) in sub-rule (5), for the words, "the lease period shall be co-terminus with the validity of Letter of Approval", the following shall be substituted, namely:- "the lease period shall not be less than five years but notwithstanding any other condition in the lease deed, the lease rights would cease to exist in case of the expiry or concellation of the Letter of Approval." ....
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....rials being sent for subcontracting shall apply only in case of temporary removal of goods by the contractor.". 10. In the principal rules,- (i) in Form-A, after point No. VI, the following shall be inserted:- "VIA. Foreign Direct Investment (FDI) (a) Extent of FDI (if any) in million U.S. Dollars (b) Source of FDI (Country and Company details may be provided)"; (ii) in Form-A, at the end, the following shall be deleted, namely:- "Note: Furnish 25 copies of the application with project report" 11. In the principal rules, in Form A, after the "Undertaking", the following shall be added, namely:- "Check List (1) Name of the Developer. (2) Proposed area of the location of the SEZ. (3) Status of recommendation of the proposal by the State Government (if available). (4) Whether proposal is for formal or in-principle approval? (In case land is in possession of the promoter, it is considered for formal approval). (5) Is it a multi-product SEZ? (6) If it is a sector specific SEZ, the sector is. (7) Whether it meets the area requirements? (8) Area of t....
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....s per details given below:- I. Proposal and project details:- To set up a .................................... Special Economic Zone over an area of .............................. hectares ................................. by M/s ................................. II General Conditions: (i) This "in-principle" approval is valid for a period of one year within which time the applicant shall submit suitable proposal for formal approval in Form "A" as prescribed under the provisions of Rule 3 of the SEZ Rules 2006, along with proof of land possession/lease hold rights, updated Project Report and Check List. Fifteen copies of the application and other enclosures prescribed shall be submitted to the Director (SEZ), Department of Commerce, Udyog Bhavan, New Delhi-110011 directly or through the State Government concerned. The applicant should be in possession of the identified area either by way of ownership or by way of lease hold rights valid for twenty years or more on the date of application. (ii) The Developer shall obtain the required approval from various statutory authorities under relevant statutes and regulations of the Government of India and ....