{"id":262824,"date":"2022-02-28T17:30:56","date_gmt":"2022-02-28T12:00:56","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=262824"},"modified":"2022-02-28T18:11:48","modified_gmt":"2022-02-28T12:41:48","slug":"legislations-monthly-round-up-february-2022","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/02\/28\/legislations-monthly-round-up-february-2022\/","title":{"rendered":"Legislations | Monthly Round-Up [February, 2022]"},"content":{"rendered":"
\n

Highlights from Union Budget 2022-23<\/span> <\/strong><\/h3>\n
\n

Read more HERE<\/a><\/p>\n

\n

RULES AND REGULATIONS<\/span><\/h3>\n
\n

Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2022<\/h4>\n

On February 01, 2022, the Central Board of Indirect Taxes & Customs (CBIC) has issued the Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2022 further amending the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017.<\/p>\n

Read More HERE<\/a><\/span><\/p>\n

<\/h4>\n

Aadhaar (Authentication and Offline Verification) (First Amendment) Regulations, 2022<\/span><\/span><\/h4>\n

The Unique Identification Authority of India notifies Aadhaar (Authentication and Offline Verification) (First Amendment) Regulations, 2022 <\/span>to further amend the Aadhaar (Authentication and Offline Verification) <\/a><\/span>Regulations, 2021.<\/span><\/span><\/p>\n

Read More HERE<\/a><\/p>\n

<\/h4>\n

Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2022<\/h4>\n

On February 09, 2022, the Insolvency and Bankruptcy Board of India (IBBI) has issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2022 to further amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016<\/a>.<\/p>\n

Read More HERE<\/a><\/p>\n

<\/h4>\n

Limited Liability Partnership (Amendment) Rules, 2022<\/span><\/span><\/span><\/h4>\n

The Central Government notifies Limited Liability Partnership (Amendment) Rules, 2022 to amend the Limited Liability Partnership Rules, 2009.<\/span><\/span><\/span><\/p>\n

Read More HERE<\/a><\/p>\n

<\/h4>\n

Companies (Accounts) Amendment Rules, 2022<\/span><\/span><\/h4>\n

The Central Government notifies Companies (Accounts) Amendment Rules, 2022<\/span> to amend the Companies (Accounts) Rules, 2014<\/a>.<\/span><\/span>
<\/span><\/p>\n

Read More HERE<\/a><\/p>\n

<\/h4>\n

Drone (Amendment) Rules, 2022<\/h4>\n

On February 11, 2022, the Ministry of Civil Aviation has issued the Drone (Amendment) Rules, 2022 to amend the Drone Rules, 2021<\/a>.<\/p>\n

Read More HERE<\/a><\/p>\n

 <\/p>\n

Central Electricity Regulatory Commission (Ancillary Services) Regulations, 2022<\/span><\/span><\/strong><\/p>\n

The Central Electricity Regulatory Commission makes Central Electricity Regulatory Commission (Ancillary Services) Regulations, 2022 with an<\/span><\/span> aim <\/span><\/span>to provide mechanisms for procurement,
\n<\/span><\/span><\/p>\n

Read More HERE<\/a><\/p>\n

<\/h4>\n

Central Motor Vehicles (Second Amendment) Rules, 2022<\/h4>\n

On February 15, 2022, the Ministry of Road Transport and Highways has issued the Central Motor Vehicles (Second Amendment) Rules, 2022 to further amend the Central Motor Vehicles Rules, 1989 in order to prescribe norms related to safety measures for children below four years of age, riding or being carried on a motor cycle.<\/p>\n

Read More HERE<\/a><\/p>\n

<\/h4>\n

Plastic Waste Management (Amendment) Rules, 2022<\/h4>\n

On February 16, 2022, the Ministry of Environment, Forest and Climate Change extended producers\u2019 responsibility for plastic packaging by Plastic Waste Management (Amendment) Rules, 2022.<\/p>\n

Read More HERE<\/a><\/p>\n

<\/h4>\n

National Committee on Dam Safety (Procedures, Allowance and other Expenditure) Rules, 2022<\/h4>\n

On February 17, 2022, the Ministry of Jal Shakti notified National Committee on Dam Safety (Procedures, Allowance and other Expenditure) Rules, 2022 in order to regulate the procedures, allowances and other expenditures of the officers of the National Dam Safety Authority (NDSA).<\/p>\n

Read More HERE<\/a><\/p>\n

 <\/p>\n

Shipping Bill (Post export <\/span>conversion in relation to instrument based scheme<\/span>)<\/span> Regulations, 2022<\/span><\/span><\/h4>\n

On February 22, 2022, the Central Board of Indirect Taxes and Customs notifies <\/span><\/span>Shipping Bill (Post export <\/span>conversion in relation to instrument based scheme<\/span>)<\/span> Regulations, 2022<\/span> in order to prescribe manner, time limit, conditions and restrictions in certain cases<\/span> related to <\/span>post<\/span>\u2013<\/span>export conversion of Shipping Bill<\/span> in relation to Instrument based schemes<\/span><\/span>. <\/span><\/p>\n

Read More HERE<\/a><\/p>\n

<\/h4>\n

Environment (Protection) Amendment Rules, 2022<\/h4>\n

On February 22, 2022, the Ministry of Environment, Forest and Climate Change (MoEFCC) has notified the Environment (Protection) Amendment Rules, 2022 to further amend the Environment (Protection) Rules, 1986<\/a>.<\/p>\n

Read More HERE<\/a><\/p>\n

<\/h4>\n

Drugs (3rd Amendment) Rules, 2022<\/span><\/span><\/span><\/h4>\n

The Central Government, after consultation with the Drugs Technical Advisory Board, notified Drugs (3rd Amendment) Rules, 2022 <\/span>to amend the Drugs Rules, 1945.<\/span><\/span><\/p>\n

Read More HERE<\/a><\/p>\n

\n

RESERVE BANK OF INDIA<\/span><\/h3>\n
\n

Master Direction \u2013 Reserve Bank of India (Credit Derivatives) Directions, 2022<\/strong><\/p>\n

On February 10, 2022, RBI has issues Master Direction \u2013 Reserve Bank of India (Credit Derivatives) Directions, 2022. These Directions shall apply to credit derivatives transactions undertaken in Over-the-Counter (OTC) markets and on recognised stock exchanges in India. It shall come into force on May 09, 2022.<\/p>\n

Read More HERE<\/a><\/p>\n

\n

SECURITIES EXCHANGE BOARD OF INDIA<\/span><\/h3>\n
\n

Guidelines on Accounting with respect to Indian Accounting Standards (IND AS)<\/strong><\/p>\n

SEBI has issued guidelines on Accounting with respect to Indian Accounting Standards (IND AS). SEBI vide notification dated January 25, 2022 amended SEBI (Mutual Funds) Regulations, 1996 (MF Regulations), which, inter-alia, mandated that the AMCs shall prepare the Financial Statements and Accounts of the Mutual Fund Schemes in accordance with IND AS with effect from April 01, 2023.<\/p>\n

Read More HERE<\/a><\/p>\n

 <\/p>\n

Framework for conversion of Private Listed InvIT into Public InvIT<\/strong><\/p>\n

On February 09, 2022, SEBI has issued a framework for conversion of Private Listed InvIT into Public InvI.<\/div>\n
<\/div>\n
A Private Listed InvIT may convert into a Public InvIT on making a public issue of units through a fresh issue and\/or an offer for sale in terms of the InvIT Regulations in the manner provided at Annexure \u2013 A.<\/div>\n
<\/div>\n
Read More HERE<\/a><\/div>\n
<\/div>\n

Circular on Audit Committee of Asset Management Companies<\/strong><\/h4>\n

On February 09, 2022, SEBI has issued a circular on Audit Committee of Asset Management Companies (AMCs). It has been decided that the AMCs of mutual funds shall be required to constitute an Audit Committee.<\/p>\n

Read More HERE<\/a><\/p>\n

<\/h3>\n

Standard operating guidelines for the vault managers and depositories \u2013 Electronic Gold Receipts ( EGR ) segment<\/h4>\n

SEBI has issued standard operating guidelines for the vault managers and depositories \u2013 Electronic Gold Receipts ( EGR ) segment in order to ensure ease of compliance for the market participants in the EGR ecosystem as well as effective implementation of the Regulations , Standard Operating Guidelines under Regulation 28 of SEBI (Vault Managers) Regulations, 2021.<\/p>\n

Read More HERE<\/a><\/p>\n

Securities and Exchange Board of India (Depositories and Participants (Amendment) Regulations, 2022<\/span><\/span><\/h4>\n

The Securities Exchange Board of India Securities and Exchange Board of India (Depositories and Participants (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of <\/a><\/span>India (Depositories and Participants) Regulations, 2018. <\/span><\/span>
<\/span><\/p>\n

Read More HERE<\/a><\/p>\n

Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022<\/h4>\n

On February 23, 2022, the Securities and Exchange Board of India (SEBI) has issued the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992.<\/p>\n

Read More HERE<\/a><\/p>\n

\n

STATES LEGISLATIONS<\/span><\/h3>\n
\n

Chattisgarh implements One Nation One Ration Card<\/h4>\n

Department of Food & Public Distribution had reviewed the progress of States\/UTs towards the implementation of \u201cOne Nation One Ration Card\u201d (ONORC) plan and after successful testing of portability transactions, the Department has approved the integration of Chhattisgarh with the existing cluster of portability States\/UTs under ONORC.<\/p>\n

Read More HERE<\/a><\/p>\n

Delhi Judicial Service (Amendment) Rules, 2022<\/span><\/span><\/h4>\n

The Lieutenant <\/span>Governor of NCT of Delhi in consultation with the High Court of Delhi notified Delhi Judicial Service (Amendment) Rules, 2022<\/span> to amend the Delhi Judicial Service Rules, 1970.<\/span><\/span><\/p>\n

Read More HERE<\/a><\/p>\n

 <\/p>\n

Delhi Electricity Regulatory Commission (Forum for Redressal of Grievances of the Consumers and Ombudsman) (First Amendment) Regulations, 2022<\/span><\/span><\/h4>\n

The Delhi Electricity Regulatory Commission has notified Delhi Electricity Regulatory Commission (Forum for Redressal of Grievances of the Consumers and Ombudsman) (First Amendment) Regulations, 2022\u00a0<\/span> to<\/span> amend<\/span> the<\/span> D<\/span>elhi<\/span> Electricity<\/span> Regulatory <\/span>Commission<\/span> (Forum<\/span> for<\/span> Redressal<\/span> of<\/span> Grievances<\/span> of the Consumers and Ombudsman) Regulations, <\/span>2018<\/span>.<\/span>
\n<\/span><\/span><\/p>\n

Read More HERE<\/a><\/p>\n

\n

FOREIGN LEGISLATION<\/span><\/h3>\n
\n

UK| Changes to Pre-Employment Checks on Right to Work<\/strong><\/p>\n

The Home Office\u2019s UK Visas & Immigration (UKVI) department confirmed the ways in which employers will be able to check a prospective employee\u2019s right to work in the UK from April 6, 2022.<\/p>\n

Read More HERE<\/a><\/p>\n

<\/h4>\n

Canada- Ontario | New Guidance on Disconnect from Work Policy and Ban on Non-Competes<\/h4>\n

On February 18, 2022, Ontario\u2019s Your guide to the Employment Standards Act<\/em><\/a> (Guide) was updated to include two new chapters relating to Disconnect from Work Policy and Ban on Non-Competes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Highlights from Union Budget 2022-23 Read more HERE RULES AND REGULATIONS Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, <\/p>\n","protected":false},"author":8808,"featured_media":262831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45673,48207],"tags":[],"class_list":["post-262824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columns-for-roundup","category-legislation-roundup"],"yoast_head":"\nLegislations | Monthly Round-Up [February, 2022] | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2022\/02\/28\/legislations-monthly-round-up-february-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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