Section 18 in The Special Economic Zones Rules, 2003
18. Security.
- A person competent under the law for the time being in force to do so in respect of a special economic zone unit or a developer shall execute a bond alongwith surety or security to the satisfaction of the [Deputy Commissioner of Customs or Assistant Commissioner of Customs, as the case may be] [Substituted words "Commissioner of Customs" by Notification No. G.S.R. 305(E) dated 11.5.2004 (w.e.f. 22.7.2003)] in the form annexed with these rules for the purpose of safeguarding the duty and such bond shall be in respect of the one or more of the following activities relating to the special economic zone, namely:-(i)movement of goods between port of import or export and the special economic zone;(ii)admission, manufacturing and other permitted activities in the special economic zone unit;(iii)temporary removal of admitted goods or goods produced or manufactured in the special economic zone unit for the purposes of repairs or testing or calibration or display or processing or any other similar temporary removals into domestic tariff area without payment of duty;(iv)re-import of exported goods.[19. Monitoring. - The performance of special economic zone unit and a developer of the concerned special economic zone shall be monitored by the Unit Approval Committee in which the Commissioner of Customs having jurisdiction over concerned special economic zone or his nominee shall be a member.] [Substituted by Notification No. G.S.R. 305(E) dated 11.5.2004 (w.e.f. 22.7.2003)]
