Legislation Updates Archives

Legislation Updates Statutes/Bills/Ordinances

Central Government has power to prohibit strikes, lock-outs, and lay-offs in units engaged in essential defence services vide Essential Defence Services Act, 2021

The Central Government has notified the Essential Defence Services Act, 2021 on August 11, 2021. It shall be deemed to have come

Legislation Updates Statutes/Bills/Ordinances

Pre-packaged Insolvency Resolution Process for MSMEs, introduced vide IBC(Amendment) Act, 2021

On August 12, 2021, the Central Government has notified the Insolvency and Bankruptcy Code Amendment Act, 2021 which has brought Pre-packaged Insolvency

Legislation Updates Statutes/Bills/Ordinances

Battery-operated motor cabs, driven on methanol and ethanol exempted from necessity of permits vide Rent-a-Cab (Amendment) Scheme 2021

The Central Government has notified Rent-a-Cab (Amendment) Scheme 2021 on August 5, 2021. The Amendment provides that the battery-operated motor cabs and

Legislation Updates Statutes/Bills/Ordinances

Every factor shall register transaction with registry under SARFAESI, vide Factoring Regulation (Amendment) Act, 2021

The Parliament passes the Factoring Regulation (Amendment) Act, 2021 on 7th August, 2021, amending the Factoring Regulation Act, 2011. Key changes enacted

Legislation Updates Rules & Regulations

Determination of income of specified funds associated with units held by NRI, notified vide Income tax Amendment (22nd Amendment), Rules, 2021

The Central Board of Direct taxes has notified the Income tax Amendment (22nd Amendment), Rules, 2021 through circular dated the 9th August,

Legislation Updates Statutes/Bills/Ordinances

Rajya Sabha clears National Commission for Homoeopathy (Amendment) Bill, 2021 and National Commission for Indian System of Medicine (Amendment) Bill, 2021

On August 11, 2021, the Rajya Sabha passed the National Commission for Homoeopathy (Amendment) Bill, 2021 and the National Commission for Indian

Legislation Updates Notifications

MCA amends schedule III of Companies Act on disclosure norms in financial statements

On August 10, 2021, the Ministry of Corporate Affairs has stated various disclosures to be made by companies in their financial statements

Legislation Updates Statutes/Bills/Ordinances

Parliament passes General Insurance Business (Nationalisation) Amendment Bill, 2021

On August 11, 2021, the General Insurance Business (Nationalisation) Amendment Bill, 2021 was passed by Rajya Sabha. The Bill seeks to amend

Foreign Legislation Legislation Updates

USA | USCIS Expands Partnership with Social Security Administration

United States Citizenship and Immigration Services (USCIS) has released a press release that those applicants filing for lawful permanent resident status can

Legislation Updates Rules & Regulations

Indirect Foreign Investment would not constitute investments made by NRI owned Indian Entity vide Foreign Exchange Management (Non debt Instruments) (Amendment) Rules, 2021

The Ministry of Finance has notified Foreign Exchange Management (Non debt Instruments) (Amendment) Rules, 2021 on August 6, 2021. The Foreign Exchange

Legislation Updates Rules & Regulations

Merger of SEBI (Issue and listing of Debt Securities) Regulations, 2008 and SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 into SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021

The Securities and Exchange Board of India has notified SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 on August 9, 2021.

Legislation Updates Statutes/Bills/Ordinances

Parliament passes Tribunal Reforms Bill, 2021

On 9th August, the Tribunal Reform Bill, 2021 was passed by Rajya Sabha. The Bill was approved by the Lok Sabha on

Legislation Updates Statutes/Bills/Ordinances

Limited Liability Partnership (Amendment) Bill, 2021 passed by Lok Sabha

On August 10, 2021, the Limited Liability Partnership (Amendment) Bill, 2021 passed by the Lok Sabha. It was passed by the Rajya

Legislation Updates Statutes/Bills/Ordinances

Lok Sabha passes the Constitution (127th Amendment bill) 2021 to empower states to have their own list of Backward Classes

On August 9, 2021, Lok Sabha has passed the Constitution (127th Amendment) Bill, 2021. The 127th Amendment Bill proposes to insert three

Foreign Legislation Legislation Updates

Italy | New cybersecurity law comes into force

On August 04, 2021 the Decree No. 82 of 14 June 2021 was published in the Official Gazette and contains 19 Articles

Foreign Legislation Legislation Updates

UK | Government launches £5 million research programme strengthening UK’s resilience against climate change

UK Government has launched new 4-year research programme, ‘Climate Services for a Net Zero Resilient World’, enhancing UK’s resilience to the impacts

Legislation Updates Rules & Regulations

Regulations regarding mining leases granted to government companies notified vide Mineral Concession (Amendment) Rules, 2021

The Ministry of Coal has notified Mineral Concession (Amendment) Rules, 2021 on August 6, 2021. It amends the Mineral Concession Rules, 1960.

Legislation Updates Rules & Regulations

Board may grant reward in case of total reward payable is less than or equal to Rs. one crore upon the issuance of the final order

On August 05, 2021, the Securities Exchange Board of India makes Securities and Exchange Board of India (Prohibition of Insider Trading) (Second

Foreign Legislation Legislation Updates

USA | USCIS issues guidance to eliminate barriers to U.S. Citizenship for Children Born Abroad Through Assisted Reproductive Technology

On August 5, 2021, U.S. Citizenship and Immigration Services (USCIS) has released an updated policy guidance for determining whether children born through

Legislation Updates Statutes/Bills/Ordinances

Airports Economic Regulatory Authority of India Bill 2021 passed in Parliament

On August 04, 2021, the Airports Economic Regulatory Authority of India Bill, 2021 passed in Parliament in order to develop not only