CABINET SECRETARIAT
Government of India (Allocation of Business) Three Hundred and Sixty-sixth Amendment Rules, 2022
On January 05, 2022, the Government of India (Allocation of Business) Three Hundred and Sixty-sixth Amendment Rules, 2022 has been notified to amend the Government of India (Allocation of Business) Rules, 1961.
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MINISTRY OF COMMERCE AND INDUSTRY
Gas Cylinders (Amendment) Rules, 2022
High pressure cylinders and Cryogenic containers used for filling non-toxic gases and liquids to have tamper proof markings have been introduced vide Gas Cylinders (Amendment) Rules, 2022.
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MINISTRY OF FINANCE
Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties) Rules, 2021
The Ministry of Finance has notified the Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties) Rules, 2021 vide notification dated December 31, 2021, amending the Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties) Rules, 2005.
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MINISTRY OF ROAD TRANSPORT AND HIGHWAYS
Central Motor Vehicles (First Amendment) Rules, 2022
Ministry of Road Transport and Highways (MoRTH) has issued the Central Motor Vehicles (First Amendment) Rules, 2022 to further amend the Central Motor Vehicles Rules, 1989.
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MINISTRY OF FAMILY AND HEALTH WELFARE
Drugs (Amendment) Rules, 2022
On January 18, 2022, the Ministry of Health and Family Welfare has notified the Drugs (Amendment) Rules, 2022 to further amend the Drugs Rules, 1945. The amendment makes QR codes mandatory on every active pharmaceutical ingredients. The Amendment Rules will come into force from January 01, 2023.
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MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES
The Central Government notifies Micro, Small and Medium Enterprises (Amendment) Rules, 2022 to amend the Micro, Small and Medium Enterprises Fund Rules, 2016.
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MINISTRY OF CORPORATE AFFAIRS
Companies (Registration Offices and Fees) Amendment Rules, 2022
On January 12, 2022, the Central Government in order to amend the Companies (Registration Offices and Fees) Rules, 2014 notified Companies (Registration Offices and Fees) Amendment Rules, 2022. It will come into force with effect from 1st July, 2022.
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Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund), Third Amendment, Rules, 2021
The Ministry of Corporate Affairs has issued the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund), Third Amendment, Rules, 2021 vide notification dated December 28, 2021.
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MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION
Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021
On December 30, 2021, the Central Government notified Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021 in order to revise the pecuniary jurisdiction of District Commission, the State Commission and the National Commission.
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Food Safety and Standards Authority of India
Food Safety and Standards (Packaging) First Amendment Regulations, 2022
On January 25, 2022, the Food Safety and Standards Authority of India (FSSAI) has issued the Food Safety and Standards (Packaging) First Amendment Regulations, 2022 to further amend the Food Safety and Standards (Packaging) Regulations, 2018.
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RESERVE BANK OF INDIA
Registration of Factors (Reserve Bank) Regulations, 2022
On January 17, 2022, the Reserve Bank of India (RBI) has issued the Registration of Factors (Reserve Bank) Regulations, 2022 relating to the manner of granting Certificate of Registration to companies which propose to do factoring business.
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RBI modifies Basel III Framework on Liquidity Standards
On January 06, 2022, the Reserve Bank of India has issued a circular to increase the threshold limit for deposits and other extensions of funds made by non-financial Small Business Customers from ₹ 5 crore to ₹ 7.5 crore for the purpose of maintenance of Liquidity Coverage Ratio (LCR).
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RBI releases Framework for Facilitating Small Value Digital Payments in Offline Mode
On January 03, 2022, the Reserve Bank has published ‘Framework for facilitating small value digital payments in offline mode’. The framework incorporates the feedback received from the pilot experiments on offline transactions conducted in different parts of the country during the period from September 2020 to June 2021. The Framework is applicable with immediate effect.
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SECURITIES EXCHANGE BOARD OF INDIA
SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Amendment) Regulations, 2022
On January 25, 2022, the Securities and Exchange Board of India SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003.
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SEBI (Alternative Investment Funds) (Amendment) Regulations, 2022
On January 24, 2022, the Securities Exchange Board of India notifies Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.
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Securities and Exchange Board of India (Settlement Proceedings) (Amendment) Regulations, 2022
On January 14, 2022 Securities and Exchange Board of India has notified SEBI (Settlement Proceedings) (Amendment) Regulations, 2022 in order to amend Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018.
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SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2022
On January 14, 2022, the Securities and Exchange Board of India notifies Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019.
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Securities and Exchange Board of India (Vault Managers) Regulations, 2021
On December 31, 2021, the Securities and Exchange Board of India notifies Securities and Exchange Board of India (Vault Managers) Regulations, 2021.
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CENTRAL BOARD OF DIRECT TAXES
Securities Transaction Tax (1st Amendment), Rules, 2022
On January 18, 2022, the Central Government notifies Securities Transaction Tax (1st Amendment), Rules, 2022 to amend the Securities Transaction Tax Rules, 2004.
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Income tax (2nd Amendment) Rules, 2022
On January 18, 2022, the Central Board of Direct Taxes notified Income tax (2nd Amendment) Rules, 2022 further to amend the Income-tax Rules,1962.
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Income tax (1st Amendment), Rules, 2022
On January 14, 2022, the Central Board of Direct taxes notifies the Income tax (1st Amendment) , Rules further to amend the Income–tax Rules,1962. They will come into force from April 01, 2022.
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STATE LEGISLATION
Delhi Goods and Services Tax (Eighth Amendment) Rules, 2021
On January 17, 2022, the Finance Department, Delhi has issued the Delhi Goods and Services Tax (Eighth Amendment) Rules, 2021 to further amend the Delhi Goods and Services Tax Rules, 2017.
The Rules to come into force from September 24, 2021.
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Govt. of Himachal Pradesh revises emoluments of contract employees
On January 12, 2022, the Finance Department of Himachal Pradesh has issued an order to revise the emoluments of contract employees provided to the State Government employees appointed on contract basis and the same shall now be revised to a fixed amount, equal to 60% (sixty percent) of the first cell of the applicable level of the Pay Matrix of the corresponding cadre of employees, appointed working on a regular basis.
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Govt. of Haryana implements enhanced rates of Dearness Allowance in the State
On January 04, 2022, the Government of Haryana has issued a notification to implement the revised rates of Dearness allowance to All India Services in the State cadre and other officers whose initial pay was fixed in accordance with IAS(Pay) Rules 2016, IPS(Pay) Rules 2016, IFS(Pay) Rules 2016.
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FOREIGN LEGISLATION
Ireland | Draft Scheme of Right to Request Remote Working Bill, 2022
On January 25, 2022, the Government of Ireland has introduced the Right to Request Remote Work Bill 2021 to provide employees with a statutory right to make, or to have made on their behalf, a request for Remote Working.
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Italy | Implementation of new eco-labelling requirements postponed till July 01, 2022
Italian Legislative Decree No. 116 of 3 September 2020 (“D.Lgs. 116/2020“), implementing (EU) Directive 2018/851 on waste and EU Directive 2018/852 on packaging and packaging waste, amended inter alia Article 219, para 5, of the Italian Legislative Decree No. 152 of 3 April 2006 (the “Italian Environmental Code”), which provides for certain environmental labelling requirements and obligations for packaging to come to into force with effect from July 01, 2022.
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UK Telecommunications (Security) Act 2021
The Telecommunications (Security) Act 2021 came into force on November 17, 2021. The Act creates new regulatory framework imposing a wide range of cyber security obligations on the telecom industry. The Act amends the existing security duties under the Communications Act, 2003, which are applicable to providers of Public Electronic Communications Networks (“PECNs”) and Public Electronic Communications Services (“PECSs”).
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Singapore | Copyright Act, 2021
On November 21, 2021, the Singapore Copyright Act, 2021 came into force. The amendments were made to the existing Copyright Act to enhance protection of copyright in view of the various technological developments.
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US- California | Genetic Information Privacy Act comes into effect
On January 01, 2022, the Senate Bill (‘SB’) 41 which establishes the Genetic Information Privacy Act entered into effect, following its approval by the California Governor on 6 October 2021.
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USA Minimum Wages
READ MORE ABOUT THE FEDERAL AND STATES MINIMUM WAGES HERE
