Bond - Signing of bonds under Section 59 of Customs Act.

Document Text

Signing of bonds under Section 59 of Customs Act F. No. 473/156/87-Cus. VII Government of India Ministry of Finance (Department of Revenue) Subject: Signing of bonds under Section 59 of the Customs Act, 1962 New Delhi, dated 15-6-1987. During the 29th Meeting of the Customs and Central Excise, Advisory Council held on 16th December, 1986, All India Small Scale Pharmaceuticals Manufacturers' Association have pointed out difficulties in the authorised signatory required to come to the Custom Houses for signing bonds under section 59. Copies of Instructions issued in this regard by the Board from time to time are enclosed. It may be noticed that the existing instructions already stipulate that the person authorised to sign bonds need not come to the Custom House if signatures are attested with stamp by (i) Notary Public, or (ii) Justice of the peace, or (iii) a Magistrate, or (iv) in a Civil Court. 2. During the discussion, it was, mentioned by the Federation of Clearing Agents' Association that in the Bombay Custom House, Custom House Agents were authenticating the signature of the importer on the bonds. 3. The board have accepted the suggestion and have decided that the practice prevalent in Bombay Custom House should be followed by other Custom Houses also. It is therefore, requested that necessary instructions in this regard may be issued to the field formations under your charge.

HS Codes Referenced

Acts & Provisions Referenced

• Customs Act, 1962 New Delhi, dated 15-6-1987.

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