Legislation Updates Archives

Legislation Updates Statutes/Bills/Ordinances

Parliament passes ‘Inland Vessels Bill, 2021’ to repeal and replace the existing Inland Vessels Act, 1917

On August 2, 2021, the Parliament passed the Inland Vessels Bill, 2021, which aims to replace over 100 years old Inland Vessels

Legislation Updates Rules & Regulations

Minimum unit holders requirement for unlisted InvITs, introduced via SEBI (Infrastructure Investment Trusts) (Amendment) Regulations, 2021

The Securities Exchange Board of India makes Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2021 to further amend

Legislation Updates Rules & Regulations

Draft Code on Wages (Jharkhand) Rules, 2021

On July 14, 2021, the Jharkhand Government has issued the Draft Code on Wages (Jharkhand) Rules, 2021. The Rules provide 9 Chapters

Legislation Updates Statutes/Bills/Ordinances

Two Food Technology Institutes declared as Institutes of National Importance vide National Institutes of Food Technology, Entrepreneurship and Management Act, 2021

The National Institutes of Food Technology, Entrepreneurship and Management Act, 2021 receives President’s assent on July 30, 2021. Key features of

Legislation Updates Notifications

SEBI issues circular on Intra-day Net Asset Value (NAV) for transactions in units of Exchange Traded Funds directly with Asset Management Companies

SEBI in view of the feedback of the industry and recommendations of the Mutual Fund Advisory Committee, clarified that intra-day NAV, based

Foreign Legislation Legislation Updates

UK | Government launches National Disability Strategy for better prospects of disabled people

UK Government has released a press release announcing launch of National Disability Strategy on July 30, 2021. Key features of the

Legislation Updates Rules & Regulations

Registration of the authorised carrier shall be invalid, if the authorised carrier is found to be inactive for a period of 1 year; Form IA introduced for renewal; notified vide the Sea Cargo Manifest and Transhipment (Fifth Amendment) Regulations, 2021

The Central Board of Indirect Taxes (CBIC) with effect from July 23, 2021 has notified the Sea Cargo Manifest and Transhipment (Fifth

Foreign Legislation Legislation Updates

USA| Final Rule announced under Fair Labor Standards Act; March 2020 Joint Employer Rule Rescinded

The U.S. Department of Labor has announced a Final rule on July 29, 2021, which shall rescind an earlier rule, Joint Employer

Legislation Updates Rules & Regulations

Rules for E-furnishing of Forms, Returns etc. introduced vide Income Tax (21st Amendment) Rules, 2021

The Central Board of Direct Taxes has notified Income Tax (21st Amendment) Rules, 2021 on July 29, 2021. New Rules 131 and

Foreign Legislation Legislation Updates

New York| NYC Commission on Human Rights Legal Enforcement Guidance on the Fair Chance Act and Employment Discrimination on the Basis of Criminal History

The New York City Commission on Human Rights (the Commission) has released updated guidance with respect to the Fair Chance Act. New

Cabinet Decisions Legislation Updates

Cabinet approves PLI Scheme for Specialty Steel, incentives worth INR 6,322 crores

The Union Cabinet has approved the PLI Scheme for Specialty Steel on July 22, 2021. The key takeaways are as follows:

Legislation Updates Notifications

Government announces 27% reservation for OBCs, 10% for EWS in All India Quota for UG, PG medical, dental courses

On July 29, 2021, the Government has announced 27% reservation for the OBCs (Other Backward Classes) and 10% quota for the Economically

Legislation Updates Notifications

Provisions of Employees’ State Insurance Act, 1948 to come into force in all the areas of Madurai district w.e.f August 01, 2021

The Central Government appoints August 01, 2021, as the date on which the provisions of Employees’ State Insurance Act, 1948: (i) sections

Legislation Updates Rules & Regulations

IFSCA invites public comments on proposed IFSCA (Capital Market Intermediaries) Regulations, 2021

On July 28, 2021, IFSCA has sought public comments on the proposed International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2021.

Cabinet Decisions Legislation Updates

Cabinet approves amendments to Deposit Insurance & Credit Guarantee Corporation Act

On July 28, 2021, Cabinet approves amendments to Deposit Insurance & Credit Guarantee Corporation Act vide Deposit Insurance & Credit Guarantee Corporation

Cabinet Decisions Legislation Updates

Cabinet approves amendments to Limited Liability Partnership Act, 2008

On July 28, 2021, the Union Cabinet has approved the amendments to Limited Liability Partnership Act, 2008 vide Limited Liability Partnership Amendment