Legislation Updates Archives

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USA| Final Rule announced under Fair Labor Standards Act; March 2020 Joint Employer Rule Rescinded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

Foreign Legislation Legislation Updates

USA | CDC updates guidance making mask mandatorily to be worn by even fully vaccinated people

The Centers for Disease Control and Prevention (CDC) has updated the guidelines with respect to wearing of masks in light of COVID-19

Legislation Updates Notifications

Kerala | “No-dowry declaration” to be signed and submitted by all male government employees within one month of marriage vide circular issued by Kerala Government

The Kerala government has issued a circular directing all male government employees to furnish a declaration to their heads of departments within

Legislation Updates Notifications

Amendment to the Guidelines for Technical Standards for the Performance of Core Services and other Services under IBBI (Information Utilities) Regulations, 2017, notified

On July 26, 2021, the Insolvency and Bankruptcy Board of India (IBBI) on July 26, 2021 has issued a notification to amend

Legislation Updates Rules & Regulations

Corporation to pay dividend in proportion to the amount paid-up on each share notified under LIC General Regulations, 2021

The Life Insurance Corporation of India has notified with effect from July 22, 2021, the Life Insurance Corporation General Regulations, 2021.

Legislation Updates Rules & Regulations

E-filing of pleadings mandatory, where debt is above 100 crores notified vide Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2021

The Ministry of Finance has notified with effect from July 22, 2021, the Debts Recovery Tribunal and Debts Recovery Appellate Tribunals Electronic

Legislation Updates Rules & Regulations

Agency to deposit penalty to the fund constituted under S. 222 of IBC, 2016, notified

The Insolvency and Bankruptcy Board of India has notified with effect from 22nd July 2021, the IBBI (Model Bye-Laws and Governing Board

Legislation Updates Rules & Regulations

License under Customs House Agents Licensing Regulations to be invalid, if licensee is inactive for 1 year, notified vide Customs Brokers Licensing (Amendment) Regulations, 2021

The Central Board of Indirect Taxes (CBIC) with effect from July 23, 2021 has notified the Customs Brokers Licensing (Amendment) Regulations, 2021.

Legislation Updates Rules & Regulations

New rule for allotment of a new name to the existing company, notified via Companies (Incorporation) Fifth Amendment Rules, 2021

On July 22, 2021, the Ministry of Corporate Affairs notifies Companies (Incorporation) Fifth Amendment Rules, 2021 in order to amend Companies (Incorporation)