Legislation Updates Archives

The US Department of Labor finalises rule to revise compensation thresholds for overtime eligibility

The Rule updates the present annual salary threshold from $35,568 to $58,656 by 01 January 2025

CBUAE Sanadak UAE's first Financial and Insurance Ombudsman

Central Bank of UAE launches ‘Sanadak’, UAE’s first Financial & Insurance Ombudsman

Sanadak is the first Ombudsman Unit both in the UAE and the MENA region, catering to consumers of Financial Institutions and Licensed Insurance Companies.

Insurance Regulatory and Development Authority of India

Legislation Updates Rules & Regulations

IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024

The regulations apply to insurers including those engaged in reinsurance business.

Legislation Updates Rules & Regulations

Toshakhana Rules 2024, notified; Applicable on the gifts received by the Government functionaries from foreign sources

The gifts received by Government functionaries from foreign sources will be kept in Toshakhana.

Legislation Updates Rules & Regulations

IRDAI (Insurance Products) Regulations, 2024

These regulations protect the interest of policyholders by enabling insurers to adopt good governance while designing and pricing the products.

Legislation Updates Notifications

SEBI relaxes mandate of additional disclosures for FPIs having more than 50% of its Indian equity AUM in a corporate group

Composite holding of such FPIs should be less than 3% of total equity share capital of apex company.

Ministry of Electronics and Information Technology

Legislation Updates Notifications

Govt. notifies ‘Fact Check Unit’ under PIB of Ministry of Information and Broadcasting

Fast Check Unit to be governed by IT (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.

Legislation Updates Rules & Regulations

Chapter relating to Adjudication of Penalties and Appeals introduced vide Patents (Second Amendment) Rules, 2024

Communications done under this Chapter should be in electronic form only.

High Court of Delhi Designation of Senior Advocate Rules, 2024

Legislation Updates Notifications

Delhi High Court amends Rules for Designation of Senior Advocates

The rules shall be called the High Court of Delhi Designation of Senior Advocate Rules, 2024.

Artificial Intelligence Act European Parliament AI

Foreign Legislation Legislation Updates

EU adopts Artificial Intelligence Act which lays down harmonised rules to regulate AI

In a pioneering step, the European Parliament on 13-03-2024, adopted 459-pages long Regulation drafted to ensure safety, compliance with fundamental rights and boost innovation.

ministry of environment, forest and climate change

Legislation Updates Rules & Regulations

MOEF revises provisions relating to plastic packaging and commodities made from compostable plastics or biodegradable plastics

Definitions of “importer”, “manufacturer” and “producer” revised.

Legislation Updates Rules & Regulations

Provision for Grace Period and Certificate of Inventorship introduced vide Patent (Amendment) Rules, 2024

Duplicate certificate of inventorship can be issued by Controller on conditions.

Legislation Updates Rules & Regulations

SEBI introduces Small and Medium REITS vide SEBI (REIT) (Amendment) Regulations, 2024

SEBI increases the ambit of the definition of REIT.

Legislation Updates Notifications

CBDT exempts TDS for IFSC Units

The provisions will come into force on 1-4-2024.

Legislation Updates Notifications

Committee Report recommends Digital Competition Act with ex-ante measures

The Committee compared traditional markets with digital markets to hint towards the threshold for intervention, and also looked into prevailing trends in other countries.