Policy Circular No. 31 dated 31^st December 1997

Attention is invited to paragraph 7.27 (ii) of the Handbook of Procedures, (Vol.1). 1997 -2002, which provides that the duty free licence upon endorsement of transferability shall be valid for the balance period of the validity or for-a period of six months from the date of endorsement ion has been sought, time and again, as to whether the transferred licence is valid for six months from the date of endorsement or whether its validity lasts till the last day of the month, as in terms of General provisions contained in Paragraph 4.15 (b) of Handbook of Procedures (Vol. 1) 1997-2002.

2.     The matter has been considered and it is clarified that the grace period as provided in Paragraph 4.15 (b) of Handbook of Procedures, (Vol.1), 1997-2002 is equally applicable to the licences which are made transferable in terms of Paragraph 7.27 if Hand book of Procedures (Vol.1), 1997-2002.

3.     This issues with the approval of Director General of Foreign Trade