{"id":264802,"date":"2022-04-01T15:30:16","date_gmt":"2022-04-01T10:00:16","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=264802"},"modified":"2022-04-01T15:51:11","modified_gmt":"2022-04-01T10:21:11","slug":"legislations-monthly-roundup-march-2022","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/04\/01\/legislations-monthly-roundup-march-2022\/","title":{"rendered":"Legislations | Monthly RoundUp [March, 2022]"},"content":{"rendered":"

Ministry of Corporate Affairs<\/span><\/h3>\n

National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Amendment Rules, 2022 <\/span><\/span><\/span><\/h4>\n

The Central Government notifies National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Amendment Rules, 2022 <\/span>to <\/span><\/span>amend the National<\/span> Financial<\/span> Reporting Authority (Manner<\/span><\/span><\/span> of<\/span> Appointment<\/span> and other Terms and <\/span><\/span>Conditions of Service of Chairperson and Members) Rules, 2018. <\/span><\/span><\/p>\n

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

 <\/p>\n

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

On March 04, 2022, the Ministry of Corporate Affairs (MCA) has notified Limited Liability Partnership (Second Amendment) Rules, 2022 to amend Limited Liability Partnership Rules, 2009<\/a>, which shall come into force on the date of its publication in the Official Gazette.<\/p>\n

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

 <\/p>\n

Ministry of Finance<\/span><\/h3>\n

Faceless Jurisdiction of Income-tax Authorities Scheme, 2022<\/strong><\/p>\n

On March 28, 2022, Ministry of Finance has issued Faceless Jurisdiction of Income-tax Authorities Scheme, 2022 <\/strong>which will come in force with immediate effect.<\/p>\n

By this Scheme and Section 130 <\/strong>of Income Tax Act, 1961 (Act),<\/strong> Central Government determines the jurisdiction of Income Tax Authorities in Faceless\/e-Assessment of taxes.<\/p>\n

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

<\/h4>\n

Life Insurance Corporation of India General (Amendment) Rules, 2022<\/span><\/span><\/h4>\n

The Central Government notifies Life Insurance Corporation of India General (Amendment) Rules, 2022 in order to amend the Life Insurance <\/a><\/span>Corporation of India General Rules, 1956 and introduce the provisions for audio visual means for conducting general meetings.<\/span><\/span><\/p>\n

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

<\/h4>\n

Premature redemption <\/span>on Non-interest bearing Government of India IDBI Special Security, 2024<\/span><\/span><\/h4>\n

The Government notifies further premature redemption <\/span>on Non-interest bearing Government of India IDBI Special Security, 2024 <\/span>by exercising \u201ccall option\u201d\u00a0<\/span> for an aggregate amount of Rupees One hundred <\/span>eighteen crore. <\/span><\/span><\/span>The date of premature redemption of the Special Security by the Government of India shall be <\/span>March 31, 2022.<\/span><\/span>
<\/span><\/p>\n

 <\/p>\n

Ministry of Law and Justice<\/span><\/h3>\n

Finance Act, 2022<\/strong><\/p>\n

On 30th<\/sup> March, 2022, Central Government passed Finance Act, 2022<\/strong> for the financial year 2022-2023. Finance Act will be effective from 1st<\/sup> April 2022.<\/p>\n

Income-tax shall be charged at the rates specified in Part I of the First Schedule<\/strong> of the Act<\/strong> and such tax shall be increased by a surcharge.<\/p>\n

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

<\/h4>\n

Ministry of Consumer Affairs, Food and Public Distribution<\/span><\/h3>\n

Legal Metrology (Packaged Commodities) Amendment Rules, 2022<\/strong><\/span><\/p>\n

On March 28, 2022, the Ministry of Consumer Affairs, Food and Public Distribution (MoCAFPD) has issued the Legal Metrology (Packaged Commodities) Amendment Rules, 2022 to further amend the Legal Metrology (Packaged Commodities) Rules, 2011<\/a>. This shall come into force on October 1, 2022.<\/p>\n

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

Ministry of Road Transport and Highways<\/span><\/h3>\n

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

On February 25, 2022, the Ministry of Road Transport and Highways has issued notification to mandate the procedure for detailed investigation of road accidents, the Detailed Accident Report (DAR) and its reporting, along with timelines for different stakeholders, for quick settlements of claims by the Motor Accident Claim Tribunal ( MACT).<\/p>\n

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

Compensation to kin of victims of hit and run accidents increased<\/h4>\n

On February 25, 2022, the Central Government has notified Central Motor Vehicles (Motor Vehicle Accident Fund) Rules, 2022. This shall come into force on April 1, 2022.<\/p>\n

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

Ministry of Home Affairs<\/span><\/h3>\n

Union territory of Chandigarh Employees (Conditions of Service) Rules, 2022<\/span><\/span><\/h4>\n

The President notified Union territory of Chandigarh Employees (Conditions of Service) Rules, 2022<\/span> regulating the conditions of service of persons appointed to the services <\/span>and posts under the administrative control of the Administrator of the Union territory of Chandigarh. <\/span><\/span>They shall come into force<\/span> on the 1<\/span>st<\/span><\/span> of April 2022<\/span>.<\/span><\/span><\/p>\n

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

Central Electricity Regulatory Commission<\/span><\/h3>\n

Central Electricity Authority (Installation and Operation of Meters) (Amendment) Regulations, 2022<\/span><\/h4>\n

Definition of \u201cAdvanced Metering Infrastructure\u2019 has been introduced.<\/p>\n

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

<\/h4>\n

CERC (Payment of Fees) (Third Amendment) Regulations, 2022<\/span>
\n<\/span><\/span><\/h4>\n

The Central Electricity Regulatory Commission has made CERC (Payment of Fees) (Third Amendment) Regulations, 2022 to <\/span>amend the Central Electricity Regulatory Commission (Payment of Fees) Regulations, 2012. <\/span>
\n<\/span><\/span><\/p>\n

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

<\/h3>\n

Unique Identification Authority of India<\/span><\/h3>\n

Aadhaar (Enrolment and Update) (Ninth Amendment) Regulations, 2022<\/h4>\n

On March 03, 2022, the Unique Identification Authority of India has issued the Aadhaar (Enrolment and Update) (Ninth Amendment) Regulations, 2022 to further amend the Aadhaar (Enrolment and Update) Regulations, 2016<\/a>. This Notification shall come into force from January 01, 2023.<\/p>\n

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

Reserve Bank of India<\/span><\/h3>\n

Investment in Umbrella Organization (UO) by Primary (Urban) Co-operative Banks<\/h4>\n

On March 03, 2022, the Reserve Bank of India (RBI) has issued notification on Investment in Umbrella Organization (UO) by Primary (Urban) Co-operative Banks.<\/p>\n

Applicability: Primary (Urban) Co-operative Banks.<\/p>\n

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

<\/h4>\n

Geo-tagging of Payment System Touch Points<\/h4>\n

On March 25, 2022, the Reserve Bank of India (RBI) has issued a notification to provide the Framework for Geo-tagging of Payment System Touch Points to facilitate nuanced spread of acceptance infrastructure and inclusive access to digital payments.<\/p>\n

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

 <\/p>\n

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

Introduction of Options on Commodity Indices \u2013 Product Design and Risk Management Framework<\/strong><\/span><\/p>\n

On March 24, 2022, the Securities and Exchange Board of India (SEBI) has issued notification regarding Introduction of Options on Commodity Indices \u2013 Product Design and Risk Management Framework. This came into force on March 24, 2022.<\/p>\n

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

 <\/p>\n

Calculation of investment concentration norm for Category III AIFs<\/strong><\/p>\n

On March 29, 2022, SEBI has issued a circular on calculation of investment concentration norm for Category III AIFs. Regulation 15(1)(d) of SEBI (Alternative Investment Funds) Regulations, 2012 (\u201cAIF Regulations \u201d), has been amended to provide flexibility to Category III AIFs, including large value funds for accredited investors of Category III AIFs, to calculate investment concentration norm based either on investable funds or net asset value (\u201cNAV\u201d) of the scheme while investing in listed equity of an investee company, subject to the conditions specified by the Board from time to time.<\/p>\n

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

<\/h3>\n

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY<\/span><\/h3>\n

IFSCA notifies Rules on Annual Report and Returns and Form of Annual Statement
\n<\/span><\/span><\/h4>\n

On February 28, 2022, the <\/span>Central Government notifies International Financial Services Centres Authority (Annual Report and Returns and Statements and Other Particulars) Rules, 2022 and International Financial Services Centres Authority (Form of Annual Statement of Accounts) Rules, 2022<\/span>.<\/span><\/span><\/p>\n

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

 <\/p>\n

International Financial Services Centres Authority (Performance Review Committee) Regulations, 2022<\/strong><\/p>\n

On March 23, 2022, International Financial Services Centres Authority notified International Financial Services Centres Authority (Performance Review Committee) Regulations, 2022<\/strong>. Performance Review Committee is formed to review and the functions carried on by the International Financial Services Centres Authority<\/strong>.<\/p>\n

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

STATE LEGISLATION’S<\/span><\/h3>\n

Gujarat Consumer Protection (Mediation) Rules, 2022<\/strong><\/p>\n

On 21st<\/sup> March, 2022, Food, Civil Supplies and Consumer Affairs Department of Gujarat notified Gujarat Consumer Protection (Mediation) Rules, 2022<\/strong>. Under Chapter 5 of Consumer Protection Act, 2019 (Act), <\/strong>states Mediation, which is a step to enhance the already existing Redressal system under Consumer Laws.<\/p>\n

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

Maharashtra Shops and Establishments (Regulation of Employment and Conditions of Service) (Amendment) Act, 2022<\/h4>\n

On March 17, 2022, the Governor of Maharashtra on March 17, 2022 has issued Maharashtra Shops and Establishments (Regulation of Employment and Conditions of Service) (Amendment) Act, 2022 to further amend the Maharashtra Shops and Establishments (Regulation of Employment and Conditions of Service) Act, 2017<\/a>. Section 36A dealing with \u2018Name Board to be in Marathi\u2019 has been inserted.<\/p>\n

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

 <\/p>\n

DELHI HIGH COURT<\/span><\/h3>\n

e-Filing Rules of the High Court of Delhi, 2021<\/span><\/h4>\n

On 22nd<\/sup> February, 2022, Delhi High Court notified \u201ce-Filing Rules of the High Court of Delhi, 2021\u201d. These rules will be applicable on High Court of Delhi and the District Courts and Tribunals.<\/p>\n

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

Foreign Legislation’s<\/span><\/h3>\n

U.S| USCIS Updates Policy Guidance on Employment Authorization for Certain E and L Non-immigrant Spouses<\/strong><\/h4>\n

On 18th March 2022, U.S. Citizenship and Immigration Services (USCIS) announced that it has updated their guidance to address acceptable evidence of work authorization for certain E and L non-immigrant spouses.<\/p>\n

Read More HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ministry of Corporate Affairs National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) <\/p>\n","protected":false},"author":8808,"featured_media":264807,"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-264802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columns-for-roundup","category-legislation-roundup"],"yoast_head":"\nLegislations | Monthly RoundUp [March, 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\/04\/01\/legislations-monthly-roundup-march-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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Chairperson and Members) Rules, 2018. In the\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":269478,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/07\/02\/legislations-monthly-roundup-june-2022\/","url_meta":{"origin":264802,"position":1},"title":"Legislations | Monthly RoundUp [June, 2022]","author":"Bhumika Indulia","date":"July 2, 2022","format":false,"excerpt":"MINISTRY OF CORPORATE AFFAIRS MCA extends date of submitting Form CSR-2 till June 30, 2022 vide Companies (Accounts) Third Amendment Rules, 2022 The Central Government notified Companies (Accounts) Third Amendment Rules, 2022 to further to amend the Companies (Accounts) Rules, 2014. The amendment extends the date for furnishing CSR Report\u2026","rel":"","context":"In "Legal RoundUp"","block_context":{"text":"Legal RoundUp","link":"https:\/\/www.scconline.com\/blog\/post\/category\/columns-for-roundup\/"},"img":{"alt_text":"Monthly RoundUp June 2022","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/Monthly_RoundUp_June_2022.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/Monthly_RoundUp_June_2022.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/Monthly_RoundUp_June_2022.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/Monthly_RoundUp_June_2022.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/Monthly_RoundUp_June_2022.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":267806,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/06\/02\/legislations-monthly-roundup-may-2022\/","url_meta":{"origin":264802,"position":2},"title":"Legislations | Monthly RoundUp [May, 2022]","author":"Bhumika Indulia","date":"June 2, 2022","format":false,"excerpt":"Legal Round Up for the month of May is mentioned below: \u00a0 MINISTRY OF CORPORATE AFFAIRS Companies (Share Capital and Debentures) Amendment Rules 2022 The Central Government has notified Companies (Share Capital and Debentures) Amendment Rules 2022 to amend the Companies (Share Capital and Debenture) Rules, 2014. 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This has come into force on April 4, 2022. 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