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Sunday, November 04, 2001

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Ban on arms agents goes

NEW DELHI, NOV. 3. Lifting a 13-year-old ban, the Centre today allowed foreign armament companies to have authorised agents, but with a stricter regulatory mechanism that includes giving legal undertakings against making illegal payments for securing arms contracts.

Enforcing the regulatory provisions, the Centre's announcement said the suppliers would be slapped with specified penalties if the undertaking was infringed in a bid to prevent illegal payments.

- PTI

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