Union Cabinet
Cabinet approves National Green Hydrogen Mission
The Union Cabinet has approved National Green Hydrogen Mission. The initial outlay for the Mission will be Rs. 19,744 crore, including an outlay of Rs. 17,490 crore for the SIGHT programme, Rs. 1,466 crore for pilot projects, Rs. 400 crore for R&D, and Rs. 388 crore towards other Mission components. MNRE will formulate the scheme guidelines for implementation of the respective components.
Ministry of Finance
MoF notifies the Securities Contracts (Regulation) Amendment Rules, 2022
On 2-1-2023, the Ministry of Finance has notified the Securities Contracts (Regulation) Amendment Rules, 2022 to amend the Securities Contracts (Regulation) Rules, 1957. The provisions of this circular came into effect on 2-1-2023.
IFSCA notifies IFSCA (Appointed Actuary) Regulations, 2022
On 12-1-2023, the International Financial Services Centres Authority notified International Financial Services Centres Authority (Appointed Actuary) Regulations, 2022. The regulations lay down regulatory framework for the persons who are engaged by the Insurance Officers (‘IOs’) to perform the roles and discharge the functions as Appointed Actuary (‘AA’).
Ministry of Finance issues Rs. 75 coin on the occasion of 75 years of raising of NCC
On 25-1-2023, the Ministry of Finance notified the Coinage (Issue of Commemorative Coin on the Occasion of 75 Years of Raising of National Cadet Corps) Rules, 2023. The provisions came into effect on 25-1-2023.
Ministry of Corporate Affairs
MCA revises Form No. AOC-5 vide Companies (Accounts) Amendment Rules, 2023
On 20-1-2023, the Ministry of Corporate Affairs notified the Companies (Accounts) Amendment Rules, 2023 to amend the Companies (Accounts) Rules, 2014. The provisions will come into effect from 23-1-2023.
MCA revises Form URC-1 vide Companies (Authorized to Register) Amendment Rules, 2023
On 20-1-2023, the Ministry of Corporate Affairs notified the Companies (Authorized to Register) Amendment Rules, 2023 to amend the Companies (Authorized to Register) Rules, 2014. The provisions will come into effect from 23-1-2023.
Companies (Registration Offices and Fees) Amendment Rules, 2023
The Central Government has notified Companies (Registration Offices and Fees) Amendment Rules, 2023 to amend the Companies (Registration Offices and Fees) Rules, 2014. They shall come into force with effect from 23-01-2023.
MCA revises Form MGT —3 and 14 vide Companies (Management and Administration) Amendment Rules, 2023
On 23-1-2023, the Ministry of Corporate Affairs notified Companies (Management and Administration) Amendment Rules, 2023 to amend the Companies (Management and Administration) Rules, 2014. The provisions have come into effect from 23-1-2023.
MCA revises Forms MSC-1, MSC-3 & MSC-4 vide Companies (Miscellaneous) Amendment Rules, 2023
On 20-1-2023, the Ministry of Corporate Affairs notified the Companies (Miscellaneous) Amendment Rules, 2023 to amend the Companies (Miscellaneous) Rules, 2014. The provisions came into effect on 23-1-2023.
Ministry of Health and Family Welfare
Additional educational requirements, powers and duties of Designated Officers, Food Officers and Analysts introduced vide Food Safety and Standards (First Amendment) Rules, 2022
On 20-01-2023, the Ministry of Health and Family Welfare notified the Food Safety and Standards (First Amendment) Rules, 2022, to further amend Food Safety and Standards Rules 2011.
Ministry of Communications
Indian Telegraph (Infrastructure Safety) Rules, 2022
On 3-1-2023, the Ministry of Communications has notified the Indian Telegraph (Infrastructure Safety) Rules, 2022. The Rules came into effect on 3-1-2023.
Ministry of Power
Electricity produced from a non- fossil fuel/ offshore wind projects exempted from additional surcharge vide Electricity (Promoting Renewable Energy Through Green Energy Open Access) Amendment Rules, 2023
On 27-1-2023, the Ministry of Power notified the Electricity (Promoting Renewable Energy Through Green Energy Open Access) Amendment Rules, 2023 to amend Electricity (Promoting Renewable Energy Through Green Energy Open Access) Rules, 2022. The provisions came into force on 27-1-2023.
Ministry of Road Transport and Highways
Renewal of certificate of registration of Government vehicles, introduced vide Central Motor Vehicles (First Amendment) Rules, 2023
On 17-1-2023, the Ministry of Road Transport and Highways notified Central Motor Vehicles (First Amendment) Rules, 2023 to amend the Central Motor Vehicles Rules, 1989. The provisions of this circular will come into force on 1-4-2023.
Securities and Exchange Board of India (SEBI)
SEBI extends timeline for entering and verifying of details in Security and Covenant Monitoring system
On 5-1-2023, the Securities and Exchange Board of India (‘SEBI’) has extended the timelines for entering and verifying the details of the existing outstanding non- convertible securities in the “Security and Covenant Monitoring” system hosted by Depositories.
SEBI notifies limited relaxation on Reg 58 of SEBI (LODR) Regulations, 2015
On 5-1-2023, the Securities and Exchange Board of India (‘SEBI’) has notified a limited relaxation on Regulation 58 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that deals in dispatch of physical copies of financial statements to debenture holders. The provisions of this circular have come into force with immediate effect.
SEBI (Registrars to an Issue and Share Transfer Agents) (Amendment) Regulation, 2023
On 9-1-2023, the Securities and Exchange Board of India (‘SEBI’) issued SEBI (Registrars to an Issue and Share of Transfer Agents) (Amendment) Regulations, 2023.
Enhanced obligations and responsibilities for qualified stock-brokers, introduced vide SEBI (Stock-Brokers) (Amendment) Regulations, 2023
On 17-1-2023, the Securities and Exchange Board of India notified the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2023 to amend the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992. The provisions came into effect on 17-1-2023 except for the provisions of Regulation 17, Schedule V and Schedule VI.
Reserve Bank of India (RBI)
RBI modifies BASEL III Capital Regulations- Eligible CRAs
On 9-1-2023, the Reserve Bank of India (‘RBI’) modified the Master circular on Basel III Capital regulations revising the list of the domestic Credit Rating Agencies (‘CRAs’) accredited for the purpose of risk weighing banks’ claims for capital adequacy purposes.
State Legislation
Goa Government notifies Goa Drone Policy, 2022
On 5-1-2023, the Government of Goa notified the Goa Drone Policy, 2022 recognizing the potential of the drone sector and foreseeing the need to act as a catalyst and enabler in establishing an ecosystem that will allow drone companies to thrive in the State.
Live Streaming and Recording of Court Proceedings Rules of the High Court of Delhi, 2022
On 13-1-2023, the High Court of Delhi notified the Live Streaming and Recording of Court Proceedings Rules of the High Court of Delhi, 2022. The rules came into effect on 13-1-2023.
*Kriti Kumar, Editorial Assistant has reported this round up.