Section 9(2) in The Foreign Exchange Management (Export Of Goods And Services) Regulations, 2000
(2)[(a) Where the export of goods or software has been made [* * *] [Inserted by G.S.R. 199(E), dated 27.2.2001 (w.e.f. 27.2.2001).] [by a Status Holder Exporter, as defined in the Exim Policy in force,] [Inserted by G.S.R. 473(E), dated 1.4.2002 (w.e.f. 8.7.2002).][then notwithstanding anything contained in sub-regulation (1), the amount representing the full export value of goods or software shall be realised and repatriated to India within twelve months from the date of export:Provided that the Reserve Bank may for a sufficient and reasonable cause shown, extend the said period of twelve months.(b)The Reserve Bank may for reasonable and sufficient cause direct that the [said exporter/s][shall cease to be governed by sub-regulation (2): [Inserted by G.S.R. 199(E), dated 27.2.2001 (w.e.f. 27.2.2001).]Provided that no such direction shall be given unless the [said exporter] [Inserted by G.S.R. 199(E), dated 27.2.2001 (w.e.f. 27.2.2001).] [has been given a reasonable opportunity to make a representation in the matter.(c)On such direction, the [said exporter/s] shall be governed by the provisions of sub-regulation (1), until directed otherwise by the Reserve Bank.]]
