 2 2 fib 1966 bill no 14 of 1966 the imports and exports (control) amendment bill, 1966 a billfurther to amend the imports and exports (control) act, 194'1 be it enact€d by parliament in the seventeenth year of the republic of india as follows:-1 this act may be called the imports and exports (control) short amendment act, 1966 title 5 2 in section 1 of the imports and exports (control) act, 1947 (hereinafter referred to as the principal act), in sub-section (3), for the figures "1966", the figures "1971" shall be substituted amendmeat of section 1 3 in section 3 of the principal act, for sub-section (2), the fouow- amend_ ing sub-section shall be substituted, namely:-meat of section 3 10 cc (2) all goods to which any order under sub-section (1) applies shall be deemed to be goods of which the import or export has been prohibited under section 11 of the customs act, 1962, and all the provisions of that act shall have effect ~ accordingly"  4 for section 5 of the principal act, the following section shall be substituted, namely: -5 substitution of new section 'for section 5 peralty "5 if any person contraven~s or attempts to contravene, or abets a contravention of, any order made or deemed to have been made under this act or any condition of a licence granted under any such order, he shall, without prejudice to any confiscation or penalty to which he may be liable under the provisions 10 of the customs act, 1962, be punishable with imprisonment for 52\ a term which may extend to two years and also with fine:  provided that in the absence of special and adequate reasons to the contrary to be recorded in the judgment of the court such imprisonment shall not be for less than six months" 15  statement of objects and reasonsthe imports and exports (control) act, 1947 will cease to have effect on the 31st day of march, 1966, from which date there will be no legislative sanction far the continuance of import and export controls 2 the need for the central government to have legislative powers to control the foreign trade of the country is as great today, as it was in 1947 the country is embarking on an ambitious fourth five year plan the defence requirements also are much more than in the past the need to conserve foreign exchange is, therefore, imperative and the position needs to be controlled closely and continuously to ensure optimum utilisation of available foreign exchange resources for the purchase of goods required to sustain industrialisation, to protect the indigenous industry and to meet essential requirements of defence and export-oriented industries on the export side, it is necessary to ensure healthy practices in our foreign trade and to safeguard the interest of the country in respect of items primarily required for home consumption particularly in the present emergency 3 the bill accordingly seeks to continue for another five years that is, up to 31st march, 1971, the powers at present vested in the central government for control and regulation of imports and exports under the aforesaid act 4 the bill also seeks to amend section 5 of the act to make provision for a minimum penalty in pursuance of the recommendations of the committee on prevention of corruption 5 opportunity has been taken to make certain changes in the act, consequential on the repeal of the sea customs act, 1878 and the enactment of the customs act, 1962 in its place new delhi; manubhai shah the 14th february, 1966 the imports and exports (control) amendment bill, 1966 seeks to extend the life of the existing imports and exports (control) act, 1947 by another five years from 31st march, 1966 the import and export trade control organisation is an existing organisation and it is proposed to continue this organisation for the extended period of the act the revised estimated expenditure on this organisation for the year 1965-66 is rupees one crore eleven lakhs four thousand seven hundred and the budget estimate proposed for this organisation for the year 1966-67 is rupees one crore nineteen lakhs eighty-two thousand one hundred it is not possible at the present stage to indicate precisely the likely extra expenditure that will be incurred on this organisation for the years subsequent to 1966-67, except to say that it is likely to be more or less on the same pattern in any case, no expenditure will be incurred without due appropriation made by parliament by law in this behalf  annexure extracts from the imports and exports (control) act, 1947 18 of 1947| 3       | (1)      ||----------|----------||         |          || -        |          || -        |          || -        |          || -        | powers   || prohibit |          || or       | restrict || imports  |          || and      |          || ex-      |          || ports   |          |18,8 (2) all goods to which any order under sub-section (1) applies shall be deemed to be goods of which the import or export has been prohibited or restricted under section 19 of the sea customs act, 1878 and all the provisions of that act shall have effect accordingly, except that se:tion 183 thereof shall have effect as if for the word "shall" therein the word "may" were substituted  - - '" - 1878 5 if any person contravenes or attempts to contravene, or· abets penalty a contravention of, any order made or deemed to have been made under this act or any conditio~ of a licence granted under any such order, he shall, without prejudice to any confiscation or penalty to which he may be liable under the provisions of the sea customs act, 1878, as applied by sub-section (2) of section 3, be punishable with imprisonment for a term which may extend to one year, or with fine, or with both  - - - - -  a billfunher to amend the impons and expons (control) act, 1947 