Insertion of new section 151B-Reciprocal arrangement for exchange of information facilitating trade.

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.... (1) The Central Government may enter into an agreement or any other arrangement with the Government of any country outside India or with such competent authorities of that country, as it deems fit, for facilitation of trade, enforcing the provisions of this Act and exchange of information for trade facilitation, effective risk analysis, verification of compliance and prevention, combating and inv....

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....rocedure for such exchange, the conditions subject to which such exchange shall be made and designation of the person through whom such information shall be exchanged. (5) Notwithstanding anything contained in sub-section (1) or sub-section (2) or sub-section (3), anything done or any action taken or purported to have been done or taken, in pursuance to any agreement entered into or any other ar....