In section 14 of the Customs Act,--
(i) in sub-section (1), for the portion beginning with the words "international trade" and ending with the words "offer for sale", the following shall be substituted, namely:--
"international trade, where--
(a) the seller and the buyer have no interest in the business of each other; or
(b) one of them has no interest in the business of the other, and the price is the sole consideration for the sale or offer for sale";
(ii) in sub-section (2), for the words "Central Government", the word "Board" shall be substituted;
(iii) in sub-section (3),--
(a) in clause (a), for the words "Central Government", wherever they occur, the word "Board" shall be substituted;
(b) for clause (b), the following clause shall be substituted, namely:-
'(b) "foreign currency" and "Indian currency" have the meanings respectively assigned to them in clause (m) and clause (g) of section 2 of the Foreign Exchange Management Act, 1999;'.