L.B. Singhal
Director General

SUB : REVISED SEZ BILL

As you are aware Ministry of Commerce intends to introduce SEZ Bill. Shri Kamal Nath, Hon'ble Commerce & Industry Minister, in the Open House organized by EPCES on 5-6-04, had invited suggestions on the draft SEZ Bill. Accordingly we had invited suggestions for the same vide EPCES Circular No. 50 dated 7-6-04. Suggestions received from the members were submitted to Ministry of Commerce for their consideration. In the Budget Shri P. Chidambaram, Hon'ble Finance Minister has stated that Commerce Minister would be introducing SEZ Bill in the Parliament shortly.

In our meeting with Shri Kamal Nath, Hon'ble Commerce & Industry Minister, when he visited SEEPZ SEZ on 16-7-04, Commerce & Industry Minister had assured that Government will introduce SEZ Bill only when this is fully acceptable to EPCES. We were assured that after taking into consideration all the suggestions the revised SEZ Bill will be made available on the website and if anything has been left out this should be informed. Accordingly Revised SEZ Bill has been placed, by Ministry of Commerce, on the website www.sezindia.nic.in <http://www.sezindia.nic.in>. I request you to please see this revised SEZ Bill and if there is any suggestion, the same may be informed to me immediately, in any case latest by Friday, August 6, 2004. The suggestions may be given in the following format:-

S.No. Existing clause No. Existing provision Revised provision Justification

I would like to inform that this SEZ Bill will be accompanied by SEZ Rules and the procedural issues will be specified in the SEZ Rules.

In the draft SEZ Bill, concept of "Virtual SEZ" has been introduced for the first time.