IRDAI (Insurance Products) Regulations, 2024
These regulations protect the interest of policyholders by enabling insurers to adopt good governance while designing and pricing the products.
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SEBI relaxes mandate of additional disclosures for FPIs having more than 50% of its Indian equity AUM in a corporate group
Composite holding of such FPIs should be less than 3% of total equity share capital of apex company.
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Govt. notifies ‘Fact Check Unit’ under PIB of Ministry of Information and Broadcasting
Fast Check Unit to be governed by IT (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.
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Chapter relating to Adjudication of Penalties and Appeals introduced vide Patents (Second Amendment) Rules, 2024
Communications done under this Chapter should be in electronic form only.
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MOEF revises provisions relating to plastic packaging and commodities made from compostable plastics or biodegradable plastics
Definitions of “importer”, “manufacturer” and “producer” revised.
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Provision for Grace Period and Certificate of Inventorship introduced vide Patent (Amendment) Rules, 2024
Duplicate certificate of inventorship can be issued by Controller on conditions.
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SEBI introduces Small and Medium REITS vide SEBI (REIT) (Amendment) Regulations, 2024
SEBI increases the ambit of the definition of REIT.
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CBDT exempts TDS for IFSC Units
The provisions will come into force on 1-4-2024.
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SEBI mandates Registration of Index Providers vide SEBI (Index Providers) Regulations, 2024
Certificate of Registration will be unless cancelled or suspended by the Board.
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MCA enhances existing threshold value of assets and turnover for purpose of combination filing
Value of assets and turnover increased by 150% based on the wholesale price index.
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CCI notifies Competition Commission of India (Determination of Monetary Penalty) Guidelines, 2024
CCI issues guidelines to bring transparency in method of calculating penalties.
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MeitY issues advisory on Misinformation and Deepfake mandating unique metadata
Advisory mandates to label a permanent unique metadata on every work to identify the source and creator in case of misinformation and deepfake.
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Legislation Roundup February 2024: Criminal Laws Enforcement Notification; One Donor Gamete in Surrogacy; Additional steps for Paytm Bank; and more
MINISTRY OF HOME AFFAIRS New Criminal Laws notified: Will be effective from July 1, 2024 On 23-2-2024, the Ministry of Home Affairs
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PFRDA decreases turnaround time for grievance redressal to 21 days
On expiration of turnaround time, complainant can file appeal with the Ombudsman.
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Ministry of Power reduces maximum time limit for granting new connections and modifying existing connections
Separate connection can be provided by Distribution Licensee for charging of Electric Vehicles.
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Labour Ministry increases Expenditure limit of contracts which need prior sanction of Standing Commitee to Rs. 25 crores
Ministry of Labour and Employment notified the Employees’ State Insurance (Central) Amendment Rules, 2024.
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New Criminal Laws notified: Will be effective from July 1, 2024
Centre notifies new Criminal laws on 23-2-2024.
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RBI advises NPCI to examine request of One97 Communication Ltd to become a Third-Party Application Provider
RBI lays down additional steps to be followed by Paytm Payments Bank Ltd.
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MoHFW allows One Donor Gamete for undergoing Surrogacy subject to medical conditions prescribed by District Medical Board
MoHFW notifies Surrogacy (Regulation) Amendment Rules, 2024 allowing one donor gamete in certain circumstances.
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CCI introduces provision for Lesser Penalty Plus vide CCI (Lesser Penalty) Regulations, 2024
CCI notifies the Competition Commission of India (Lesser Penalty) Regulations, 2024.
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