Legislation Updates Archives

SEBI | NRI or OCI could be constituents of applicant under SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2021

SEBI has issued Securities and Exchange Board of India (Foreign Portfolio Investors) Amendment Regulations, 2021 on August 3, 2021. The amendment makes

Legislation Updates Rules & Regulations

Battery-operated vehicles exempted from RC issue, renewal fees vide Central Motor Vehicles (Sixteenth Amendment) Rules, 2021

The Ministry of Road Transport and Highways has amended the Central Motor Vehicles Rules, 1989, notifying the Central Motor Vehicles (Sixteenth Amendment)

Foreign Legislation Legislation Updates

UK | European Convention on Human Rights protocol comes into force

Protocol no. 15 to the European Convention on Human Rights has come into force on August 1, 2021. The development of Protocol

Legislation Updates Notifications

SEBI issues circular for permitting non-scheduled Payments Banks to register as Bankers to an Issue

On August 03, 2021, SEBI issued a circular to protect the interests of investors in securities and to promote the development of,

Legislation Updates Notifications

CBDT extends due dates for electronic filing of various Forms under the Income-tax Act, 1961

On August 03, 2021, the Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing

Foreign Legislation Legislation Updates

New Zealand | New legislation banning conversion therapy for LGBTQ, introduced in parliament

New Zealand has introduced the Conversion Practices Prohibition Legislation Bill in the Parliament on July 30, 2021. The Bill aims at preventing

Foreign Legislation Legislation Updates

Pittsburgh, Pennsylvania enacts another temporary COVID-19 paid sick leave Ordinance

On July 29, 2021, Mayor signed a new Temporary COVID-19 Paid Sick Leave Ordinance which requires employers with 50 or more employees

Legislation Updates Statutes/Bills/Ordinances

Marine Aids to Navigation Act, 2021 comes into force, rescinding 90-year-old Lighthouse Act, 1927

The Central Government has passed the Marine Aids to Navigation Act, 2021 on July 31, 2021. The Act repeals the Lighthouse Act,

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