 biu no 111 of 1!70 tide foreign exchange regula ti0n (amendment) bill, 1970 a billfurther to amend the foreign exchange regulation act, uk7 be it enacted by parliament in the twenty-first year of the republic of india as follows:-1 this act may be called the foreign exchange regulation (amend-shojit title ment) act, 1970 --; of 1947' z in section 19g of the foreign exchange regulation act, 1947, (here-amend-10 inafter referred to as the principal act), the following explanation shall ment of be inserted at the end namely;-section 190 uexplanatilon-in computing the period of o'l1e year during which a document (hereafter in this explanation referred to as the said document) may be retained under this section, in any case where by reason of an injunction or order of any court (whether such injunction or order is in relation to the said document or is in relation to any other document reference to which would be necessary for examining or using the said document) ,-is (a) the said document could not be examined fully for the purpose of determining whether it would be evidence of the contravention of any of the provisions of this act or of any rule, direction or order made thereunder or (b) the said document could not be used for commendn, ady proceeding» undec section 23, or (c) the proceedings under section 23 could not be commenced, the time of the continuance of the injunction or order, the day on which it wu issued or made and the day on which it was with4lrawn, s shan be excluded  s (if id70 3 (1) the foreign exchange regulation (amendment) ordinance, uno, is hereby repealed repeal and aaying (o!) notwithstanding such repeal, anything done or any action taken under the principal act as amended by the said ordinance shall be deem- 10 ed to have been done or taken under the principal act as amended by this act, as if this act had come into force on the 20th day of september, 1970  statement of objects and reasonsunder section 19g of the foreign exchange regulation act, 1947, "when the director of enforcement or any other officer of enforeement has reaaon to believe that any document furnished or seized under any of the proyisions of the act would be evidence of the contravention of any of its provisions or of any rule, direction or order made thereunder, and that it would be necessary to retain the document in his custody, he may 10 retain it for a period not exceeding one year or, if meanwhile proceedingsunder the act have commenced, till the conclusion of the proceedings it has been found by experience that though in normal circum-iftances this period of one year is sufficient, difficulty arises where the ictutiny of such douments or connected documents is prohibited by reason of an injunction or order of any court such a difficulty arose in an accentuated form in a case in which the documents which were seized in october, 1969, remained continuously sealed by reason of court orders from as early as january, 1970 the period of one year for returning these documents was due to expire in october, 1970, and there was no assurance even as late as the middle of september, 1970, of the court orders being vacated 2 to overcome the afore-mentioned difficulty, as parliament was not then in session, the president promulgated on the 20th september, 1970, the f<1reign exchange regulation (amendment) ordinance, 1970 the ordinance by a suitable amendment to section 19g of the foreign exchange regulation act, 1947, provided that in computing the period of one year during which a document may be retained under the section, any time during which that document could not be examined fully or used, by reason of an injunction or order of any court in relation to that document or in relation to any other document reference to which would be necessary for examining or using the first mentioned document, should be excluded the present bill seeks to replace the said ordinance by an act of parliament new dahi; y b chavan the 9th october, 1970  annexureextract from the foreign exchange reevlanolc act, 1947 (7 of 1947) - - - - - - ltg where in pursuance of an order made under sub-section (2) of section 19 or of the provisions of section 19a, 19c or 19d, or of a requisition or summons under section 19e or 19f, any document is furnished or seized and the director of enforcement or any other officer of enforcement has reason to believe that the said document would be evidence of the contravention of any of the provisions of this act or of any rule, direction or order made thereunder, and that it would be necessary to' retain the document in his custody, he may so retain the said document for a period not exceeding one year or if, before the expiry of the said period of one year, any proceedings under section 23-(<<) have been commenced before him, until the disposal of those proceedings, including the proceedings, if any, before the appellate board and the high court or (b) have been commenced before a court, until the documollt hasbeen filed in that court  - - - - -  a billfurther to amend the for exchange rejulation act, j947 (shri y b chtifj(i1i, minister" finance) 