"18A. (7) No person shall, except with the general or special permission of the Reserve Bank, take or send out by land, sea or air any goods from India to any place on lease or hire or under any arrangement other than sale or disposal in any other manner of such goods.
(2) The provisions of section 18 shall, so far as may be, apply to the taking or sending out of goods under sub-section (./).".
8. In section 19 of the principal Act,—
(a) in sub-section (1), clause (c) shall be omitted;
(b) in sub-section (4), clause (c) shall be omitted;
(c) for sub-sections (5) and (6), the following sub-sections shall be substituted, namely:— "(5) Notwithstanding anything contained in any other law, no transfer of any share, bond or debenture of a company registered in India made by a person resident outside India or by a national of a foreign State to another person resident in India shall be valid unless such transfer is confirmed by the Reserve Bank on an application made to it in this behalf by the transferor or the transferee.
(6) If the Reserve Bank is of opinion that it is necessary or expedient in the public interest so to do, it may, by general or special permission, exempt any transfer referred to in subsection (5) or any class of such transfers from the operation of the provisions of that sub-section, subject to such conditions, if any, as may be specified in such permission.".
9. Sections 20 and 21 of the principal Act shall be omitted.
10. In section 22 of the principal Act, the words "The Central Government may, by notification in the Official Gazette, order that" shall be omitted.
11. Section 23 of the principal Act shall be omitted.
12. In section 25 of the principal Act,—
(a) in sub-section (1), for the words "permission of the Reserve Bank", the words ''general or special permission of the Reserve Bank" shall be substituted;
(b) sub-section (3) shall be omitted.