MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
NOTIFICATION
New Delhi, the 3rd March, 2010
S.O. 527(E). In exercise of the powers conferred by sub-section (1) of
Section 49 of the Special Economic Zones Act, 2005 (28 of 2005), the Central
Government hereby declares that the provisions of clause (u) of Section 2 of the
Special Economic Zones Act, 2005, would not apply to Special Economic
Zones in so far as they relate to setting up of (i) offsite Automated Teller
Machines in the Special Economic Zones by Banks, not licensed as Offshore
Banking Units; with the prior permission of the Reserve Bank of India under
Section 23 of the Banking Regulation Act, 1949.
T. SRINIDHI, Director
[F. No. C. 3/9/2008-SEZ]