{"id":330253,"date":"2024-09-07T12:00:59","date_gmt":"2024-09-07T06:30:59","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=330253"},"modified":"2024-09-07T12:05:00","modified_gmt":"2024-09-07T06:35:00","slug":"legislation-roundup-august-2024-legal-update","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2024\/09\/07\/legislation-roundup-august-2024-legal-update\/","title":{"rendered":"LEGISLATION ROUNDUP AUGUST 2024: GSTAT Benches constituted; Decriminalization of IP laws; RHFL banned from securities market; Provisions for Sovereign Green Bonds introduced; and more"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<h4 style=\"background-image: linear-gradient(to left, #FFFFFF, rgb(121, 164, 210));\">MINISTRY OF FINANCE<\/h4>\n<p style=\"font-weight: bold;\">Government notifies Constitution of GSTAT Principal Bench and State Benches<\/p>\n<p style=\"\">On 31-7-2024, the Ministry of Finance established the Goods and Services Tax Appellate Tribunal (&#8216;GSTAT&#8217;) having retrospective effect from 1-9-2023.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/02\/mof-establishes-gstat-principal-and-state-benches-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<h4 style=\"background-image: linear-gradient(to left, #FFFFFF, rgb(121, 164, 210));\">MINISTRY OF COMMERCE &amp; INDUSTRY<\/h4>\n<p style=\"font-weight: bold;\">Intellectual Property laws decriminalized and amended vide Jan Vishwas (Amendment of Provisions) Act, 2023 w.e.f. 01-08-2024<\/p>\n<p style=\"\">The provisions related to patents, trade marks, geographical indications, and copyright laws came into effect on 01-08-2024<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/03\/ip-laws-decriminalized-and-amended-vide-jan-vishwas-amendment-of-provisions-act-2023\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<h4 style=\"background-image: linear-gradient(to left, #FFFFFF, rgb(121, 164, 210));\">MINISTRY OF CORPORATE AFFAIRS<\/h4>\n<p style=\"font-weight: bold;\">Govt introduces e-adjudication Platform vide Companies (Adjudication of Penalties) Amendment Rules, 2024<\/p>\n<p style=\"\">On 5-8-2024, the Ministry of Corporate Affairs notified the Companies (Adjudication of Penalties) Amendment Rules, 2024 to amend the <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002789147\" target=\"_blank\" rel=\"noopener\">Companies (Adjudication of Penalties) Rules, 2014<\/a>. The provisions will come into force on 16-9-2024.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/07\/mca-notifies-companies-adjudication-of-penalties-amendment-rules-2024-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<h4 style=\"background-image: linear-gradient(to left, #FFFFFF, rgb(121, 164, 210));\">MINISTRY OF AGRICULTURE &amp; FARMERS WELFARE<\/h4>\n<p style=\"font-weight: bold;\">Requirements for domestic and export trade of millets laid down vide Millets Grading and Marking Rules, 2024<\/p>\n<p style=\"\">On 5-8-2024, the Ministry of Agriculture and Farmers Welfare notified the Millets Grading and Marking Rules, 2024 to regulate the quality of millets. The provisions came into force on 5-8-2024.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/13\/millets-grading-and-marking-rules-2024-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<h4 style=\"background-image: linear-gradient(to left, #FFFFFF, rgb(121, 164, 210));\">DIRECTORATE OF FAMILY WELFARE<\/h4>\n<p style=\"font-weight: bold;\">Directorate of Family Welfare notifies constitution of Medical Boards in the NCT of Delhi<\/p>\n<p style=\"\">On 14-08-2024, the Directorate of Family Welfare notified the constitution of Medical Boards in the National Capital Territory of Delhi by the President.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/23\/directorate-family-welfare-notifies-constitution-of-medical-boards-in-nct-of-delhi-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<h4 style=\"background-image: linear-gradient(to left, #FFFFFF, rgb(121, 164, 210));\">SECURITIES AND EXCHANGE BOARD OF INDIA<\/h4>\n<p style=\"font-weight: bold;\">SEBI issues Master Circular for Stockbrokers to increase accessibility by consolidating all relevant circulars<\/p>\n<p style=\"\">On 09-08-2024, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) issued a Master Circular for Stockbrokers to update the Master Circular dated 22-05-2024 and include all relevant circulars that were issued till 09-08-2024.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/14\/sebi-issues-master-circular-stock-brokers-to-increase-accessibility-by-consolidating-all-relevant-circulars\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold;\">SEBI bans Reliance Home Finance Limited and 23 other entities for 5 years; imposes penalty of Rs. 25 crores on each entity<\/p>\n<p style=\"\">SEBI imposed a fine of Rs. 25 crores on 23 entities for a fraudulent scheme, orchestrated by Anil Ambani and administrated by key managerial persons of RHFL.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/23\/sebi-imposes-monetary-penalty-on-anil-ambani-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold;\">SEBI introduces Chapter on &#8216;Restriction in Dealing with Unregulated\/Other Entities&#8217; in Regulations for Securities Contracts, Depositories and Participants, and Intermediaries<\/p>\n<p style=\"\">SEBI notified the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Fourth Amendment) Regulations, 2024, the SEBI (Depositories and Participants) (Second Amendment) Regulations, 2024, and the SEBI (Intermediaries) (Amendment) Regulations, 2024.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/09\/02\/sebi-introduces-chapter-restriction-in-dealing-with-unregulated-other-entities-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold;\">SEBI updates method of &#8216;Disclosure of Shareholding&#8217; vide Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2024<\/p>\n<p style=\"\">On 29-07-2024, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) notified the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Third Amendment) Regulations, 2024 to amend the <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-9000897795\" target=\"_blank\" rel=\"noopener\">Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018<\/a>.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/01\/sebi-notifies-securities-contracts-regulation-stock-exchanges-clearing-corporations-third-amendment-regulations-2024\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold;\">Provisions for &#8216;market abuse&#8217; and &#8216;mechanism for identification of market abuse&#8217;, introduced vide SEBI (Mutual Funds) (Second Amendment) Regulations, 2024<\/p>\n<p style=\"\">On 02-08-2024, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) notified the SEBI (Mutual Funds) (Second Amendment) Regulations, 2024 to amend the <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-9000487188\" target=\"_blank\" rel=\"noopener\">SEBI (Mutual funds) Regulations, 1996<\/a>.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/07\/sebi-inserts-provisions-market-abuse-mechanism-for-identification-market-abuse-sebi-mutual-funds-second-amendment-regulations-2024\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold;\">SEBI revises &#8216;Tenure&#8217; of Category I and II Alternative Investment Fund vide SEBI (Alternative Investment Funds) (Fourth Amendment) Regulations, 2024<\/p>\n<p style=\"\">On 05-08-2024, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) notified the SEBI (Alternative Investment Funds) (Fourth Amendment) Regulations, 2024 to amend the <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-9000163115\" target=\"_blank\" rel=\"noopener\">Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012<\/a>. They came into force on 06-08-2024.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/10\/sebi-revises-tenure-of-category-i-and-ii-aif-vide-sebi-alternative-investment-funds-regulations-2024\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<h4 style=\"background-image: linear-gradient(to left, #FFFFFF, rgb(121, 164, 210));\">RESERVE BANK OF INDIA<\/h4>\n<p style=\"font-weight: bold;\">RBI introduces provisions for &#8216;Sovereign Green Bonds&#8217; vide Foreign Exchange Management (Debt Instruments) (Third Amendment) Regulations, 2024<\/p>\n<p style=\"\">On 02-08-2024, the Reserve Bank of India (&#8216;RBI&#8217;) notified the Foreign Exchange Management (Debt Instruments) (Third Amendment) Regulations, 2024 to amend the <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-9000437260\" target=\"_blank\" rel=\"noopener\">Foreign Exchange Management (Debt Instruments) Regulations, 2019<\/a>. They came into force on 07-08-2024.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/13\/rbi-introduces-provisions-for-sovereign-green-bonds-vide-foreign-exchange-management-debt-instruments-third-amendment-regulations-2024\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<h4 style=\"background-image: linear-gradient(to left, #FFFFFF, rgb(121, 164, 210));\">STATE AMENDMENTS<\/h4>\n<p style=\"font-weight: bold;\">Uttar Pradesh Digital Media Policy, 2024<\/p>\n<p style=\"\">On 28-8-2024, the Uttar Pradesh State Cabinet approved the Uttar Pradesh Digital Media Policy, 2024 for appointing digital influencers to publicize the State Government&#8217;s policies, schemes and achievements on various social media platforms.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2024\/08\/29\/up-government-approves-digital-media-policy-2024\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p style=\"font-style: italic;\">Principle bench of Goods and Services Tax Appellate Tribunal constituted at New Delhi.<\/p>\n","protected":false},"author":67515,"featured_media":330256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45673,48207],"tags":[45675,65984,58095,72873,58092],"class_list":["post-330253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columns-for-roundup","category-legislation-roundup","tag-legal-roundup","tag-legislation-monthly-roundup","tag-legislation-roundup","tag-legislation-roundup-august","tag-monthly"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Legislation Roundup August 2024 | SCC Time<\/title>\n<meta name=\"description\" content=\"Legislation Roundup August 2024: GSTAT Benches constituted; 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