2.43

Goods, which are importable without restriction, can be transferred by sale or otherwise by the importer freely. Transfer of imported goods, which are subject to Actual User condition under the Policy and have become surplus to the needs of the Actual User, shall be made only with the prior permission of the licensing authority concerned. The following information alongwith supporting documents shall be furnished with the request for grant of permission for transfer, to the licensing authority concerned:

(i) Reasons for transfer of imported material;

(ii) Name, address, IEC number and industrial licence/ certificate/permission/registration, if any, of the transferee;

(iii) Description, quantity and value of the goods imported and those sought to be transferred;

(iv) Copies of import licence/ certificate/ permission and bills of entry relating to the imports made;

(v) Terms and conditions of the transfer as agreed upon between buyer and the seller.