"(1) No national of a foreign State shall, without the previous permission of the Reserve Bank, practise any profession or carry on any occupation, trade or business in India in a case where such national desires to acquire any foreign exchange (such foreign exchange being intended for remittance outside India) out of any moneys received by him in India by reason of the practising of such profession or the carrying on of such occupation, trade or business, as the case may be.".
18. In section 31 of the principal Act, in sub-section (1), the words "or in which the non-rcsident interest is more than forty per cent." shall be omitted.
Omission of section 27.
Amendment of section 28.
Amendment of section 29.
Amendment of section 30.
Amendment of section 31.
4 THE GAZETTE OF INDIA EXTRAORDINARY [PART II— Omission of section 32.
Amendment of sections 35, 37, 46 and 62.
Amendment of section 41.
Amendment of section 42.
Amendment of section 43.
Amendment of section 45.
19. Section 32 of the principal Act shall be omitted.
20. In sections 35, 37, 46 and 62 of the principal Act, for the words and figures "Code of Criminal Procedure, 1898", the words and figures "Code of Criminal Procedure, 1973" shall be substituted.
21. In section 41 of the principal Act,—
(a) for the words "one year", wherever they occur, the words "six months" shall be substituted;
(b) after clause (it), the following proviso shall be inserted, namely:— "Provided that the aforesaid period of six months may, for reasons to be recorded in writing; be extended by the Director of Enforcement for a further period not exceeding six months.",
22. In section 42 of the principal Act,—
(a) in sub-section (I), in clause (i), after the word and figures "section 18", the words, figures and letter "or section ISA" shall be inserted;
(b) after sub-section (3), the following sub-sections shall be inserted, namely:— "(4) Where any foreign currency, being the subject-matter of any investigation or proceeding referred to in sub-section (1), is in the custody of an officer of Customs or of an officer of Enforcement or of a court, the Collector of Customs, the Director of Enforcement or, as the case may be, the court may, having regard to the security-risk involved in such custody, direct that the foreign currency be deposited in a bank in such manner as he or it may deem fit.
(5) Where any draft, cheque (including traveller's cheque) or other instrument is to be encashed under sub-section (1) or any foreign currency is to be deposited in a bank under sub-section (4), the Collector of Customs, the Director of Enforcement or, as the , case may be, the court, may prepare or cause to be prepared an inventory of such draft, cheque or other instrument or foreign currency containing such details relating to its description, mark, numbers, country of origin and other particulars as may appear to be relevant to its identity in any proceeding under this Act and where the inventory is prepared or cause to be prepared by the Collector or the Director, the Collector or, as the case may be, the Director shall make an application to a Magistrate for the purpose of— («) certifying the correctness of the inventory so prepared; or
(b) taking, in the presence of the Magistrate photographs of such draft, cheque, other instrument or foreign currency, and certifying such photographs as true.
(6) Where an application is made under sub-section (5), the Magistrate shall, as soon as may be, allow the application.'".
23. In section 43 of the principal Act, in sub-section (J), the words and figures 'and to a person to whom a licence has been granted or deemed to have been granted under section 32" shall be omitted.
24. In section 45 of the principal Act,—
(a) in sub-section (7), for the words and figures "Code of Criminal Procedure, 1898, any police officer not below the rank of a Sub-Inspector of Police", the words and figures "Code of Criminal Procedure, 1973, any police officer not below the rank of a Deputy Superintendent of Police" shall be substituted;
5 of 1898.
2 of 1974.
5 of 1898.
2 of 1974.
SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 5 5 of 1898.
2 of 1974.
5 of 1898.
2 of 1974.
5 of 1898.
2 of 1974.
2 of 1974.
5 of 1898.
2 of 1974.
(b) in sub-section (3), for the words and figures "Code of Criminal Procedure, 1898", the words and figures "Code of Criminal Procedure, 1973" shall be substituted.
25. In section 50 of the principal Act, for the word and figures "section 18", the words, figures and letter "section 18, section 18A" shall be substituted.
26. In section 52 of the principal Act,— {a) in sub-section (2), after the words "Any p ison aggrieved by such order may,", the words "on payment of such fee as may be prescribed and" shall be inserted;
(b) in sub-section (d), in the second proviso, for the words "fifty thousand rupees", the words "two lakhs and fifty thousand rupees" shall be substituted.
27. In section 53 of the principal Act, in sub-section (2), for the words and figures "sections 480 and 482 of the Code of Criminal Procedure, 1898", the words and figures "sections 345 and 346 of the Code of Criminal Procedure, 1973" shall be substituted.
28. In section 56 of the principal Act,— («) in sub-section (7), for the word and figures "section 18", the words, figures and letter "section 18, section 18A," shall be substituted;
{b) in sub-sections (2) and (3), for the word and figures "section 18", wherever they occur, the words, figures and letter "section 18 or section 18A" shall be substituted;
(c) in sub-section (6), for the words and figures "the first proviso to section 188 of the Code of Criminal Procedure, 1898", the words and figures "the proviso to section 188 of the Code of Criminal Procedure, 1973" shall be substituted.
29. In section 58 of the principal Act,—
(a) in sub-section (/). for the words "be punishable with fine which may extend to two thousand rupees", the words "be punishable with imprisonment for a term which may extend to two years or with fine which may extend to ten thousand rupees or with both" shall be substituted;
(b) in sub-section (2), for the words "two thousand rupees", the words "ten thousand rupees" shall be substituted.