Section 5 in The Foreign Trade (Development and Regulation) Act, 1992

Title: Foreign Trade Policy

Description: 1[5. Foreign Trade Policy.-- The Central Government may, from time to time, formulate and announce, by notification in the Official Gazette, the foreign trade policy and may also, inlike manner, amend that policy: Provided that the Central Government may direct that, in respect of the Special Economic Zones, the foreign trade policy shall apply to the goods, services and technology with such exceptions, modifications and adaptations, as may be specified by it by notification in the Official Gazette.] 1 Subs. by s. 5,ibid., for section 5 (w.e.f.27-8-2010).

Title: Appointment of Director General and his functions

Description: (1) The Central Government may appoint any person to be the Director General of Foreign Trade for the purposes of this Act. (2) The Director General shall advise the Central Government in the formulation of the 1[foreign trade policy] and shall be responsible for carrying out that policy. (3) The Central Government may, by Order published in the Official Gazette, direct that any power exercisable by it under this Act (other than the powers under sections 3, 5, 15,16 and 19) may also be exercised, in such cases and subject to such conditions, by the Director General or such other officer subordinate to the Director General, as may be specified in the Order. 1 Subs. by s. 6, ibid., for "export and import policy" (w.e.f.27-8-2010).

Title: Importer-exporter Code Number

Description: No person shall make any import or export except under an Importer-exporter Code Number granted by the Director General or the officer authorised by the Director General in this behalf, in accordance with the procedure specified in this behalf by the Director General: 1[Provided that in case of import or export of services or technology, the Importer-exporter Code Number shall be necessary only when the service or technology provider is taking benefits under the foreign trade policy or is dealing with specified services or specified technologies.] 1 Ins. by s. 7, ibid. (w.e.f.27-8-2010).

Title: Suspension and cancellation of Importer-exporter Code Number

Description: 1[(1) Where— (a) any person has contravened any of the provisions of this Act or any rules or orders made thereunder or the foreign trade policy or any other law for the time being in force relating to Central excise or customs or foreign exchange or has committed any other economic offence under any other law for the time being in force as may be specified by the Central Government by notification in the Official Gazette; or (b) the Director General or any other officer authorised by him has reason to believe that any person has made an export or import in a manner prejudicial to the trade relations of India with any foreign country or to the interests of other persons engaged in imports or exports or has brought disrepute to the credit or the goods of, or services or technology provided from, the country; or (c) any person who imports or exports specified goods or services or technology, in contravention of any provision of this Act or any rules or orders made thereunder or the foreign trade policy, the Director General or any other officer authorised by him may call for the record or any other information from that person and may, after giving to that person a notice in writing informing him of the grounds on which it is proposed to suspend or cancel the Importer-exporter Code Number and after giving him a reasonable opportunity of making a representation in writing within such reasonable time as may be specified in the notice and, if that person so desires, of being heard, suspend for a period, as may be specified in the order, or cancel the Importer-exporter Code Number granted to that person.] (2) Where any Importer-exporter Code Number granted to a person has been suspended or cancelled under sub-section (1), that person shall not be entitled to 2[import or export any goods or services or technology] except under a special licence, granted, in such manner and subject to such conditions as may be prescribed, by the Director General to that person. 1 Subs. by Act 25 of 2010, s. 8, for sub-section (1) (w.e.f.27-8-2010). 2 Subs. by s. 8, ibid., for "import or export any goods" (w.e.f.27-8-2010).

Title: Issue, suspension and cancellation of licence

Description: (1) The Central Government may levy fees, subject to such exceptions, in respect of such person or class of persons making an application for 1 [licence, certificate, scrip or any instrument bestowing financial or fiscal benefits] of in respect of any 1[licence, certificate, scrip or any instrument bestowing financial or fiscal benefits] granted or renewed in such manner as may be prescribed. 2[(2) The Director General or an officer authorised by him may, on an application and after making such inquiry as he may think fit, grant or renew or refuse to grant or renew a licence to import or export such class or classes of goods or services or technology as may be prescribed and, grant or renew or refuse to grant or renew a certificate, scrip or any instrument bestowing financial or fiscal benefit, after recording in writing his reasons for such refusal.] (3) A 1[licence, certificate, scrip or any instrument bestowing financial or fiscal benefits] granted or renewed under this section shall— (a) be in such form as may be prescribed; (b) be valid for such period as may be specified therein; and (c) be subject to such terms, conditions and restrictions as may be prescribed or as specified in the 1[licence, certificate, scrip or any instrument bestowing financial or fiscal benefits] with reference to the terms, conditions and restrictions so prescribed. (4) The Director General or the officer authorised under sub-section (2) may, subject to such conditions as may be prescribed, for good and sufficient reasons, to be recorded in writing, suspend or cancel any 1[licence, certificate, scrip or any instrument bestowing financial or fiscal benefits] granted under this Act: Provided that no such suspension or cancellation shall be made except after giving the holder of the 3 [licence, certificate, scrip or any instrument bestowing financial or fiscal benefits] a reasonable opportunity of being heard. (5) An appeal against an order refusing to grant, or renew or suspending or cancelling, a 3[licence, certificate, scrip or any instrument bestowing financial or fiscal benefits] shall lie in like manner as an appeal against an order would lie under section 15. 1 Subs. by s. 9, ibid., for "licence" (w.e.f.27-8-2010). 2 Subs. by s. 9, ibid., for sub-section (2) (w.e.f.27-8-2010). 3 Subs. by Act 25 of 2010, s. 9, for "licence" (w.e.f.27-8-2010).