The transfer of ownership in any goods brought into, or produced or manufactured in any Unit or Special Economic Zone or removal thereof from such Unit or Zone shall be allowed, subject to the following terms and conditions, namely:—
(i) Before effecting transfer, the Development Commissioner of the Special Economic Zone shall be informed and his concurrence obtained;
(ii) The transferor and the transferee shall maintain proper account of goods transferred or removed;
(iii) The goods transferred or removed shall not be counted for the purpose of Net Foreign Exchange earning by the Unit;
(iv) The transferred goods (other than the raw material procured from Domestic Tariff Area) shall be accounted as import by the receiving Unit while the value of the same shall be deducted from the import of the transferring Unit;
(v) Transfer or removal of goods to Units or Developers in other Special Economic Zone or to Export Oriented Unit or Electronic Hardware Technology Park Unit or Software Technology Park Unit or Bio-Technology Park Unit shall be allowed with the prior written permission of the Specified Officer and subject to such conditions as may be imposed.
TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 3