SEBI Issues new Annual system Audit framework for exchanges and clearing corporations.
In order to keep pace with the technological advancements in the securities market, the Securities and Exchange Board of India in its Circular dated 7th January 2020 has issued a new framework on system audit for market infrastructure institutions (MIIs), stock exchanges, clearing corporations and depositories, wherein they need to inform about major non-compliances.
SEBI Issues new framework for core settlement guarantee fund and contribution by non-defaulting members in default waterfall of clearing corporation.
The Securities and Exchange Board of India (SEBI) vide Circular dated 3rd January 2020, amends the guidelines pertaining to Core Settlement Guarantee Fund and Default Waterfall for Clearing Corporations. The amendment deals with contribution to and replenishment of core SGF account at instance of default.
IBBI Notifies Insolvency and bankruptcy board of India (Liquidation process) Amendment Regulations, 2020.
The Insolvency and Bankruptcy Board of India Vide Notification dated 6th January 2020 has brought in several major amendments to The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations. As per the amendment, a person, who is not eligible under Insolvency and Bankruptcy Code, 2016 (IBC) to submit a resolution plan for insolvency resolution of a corporate debtor, shall not be a party in any manner to a compromise or arrangement of the corporate debtor, or purchase the security interest in property of such corporate debtor from any other creditor.
Environment (Protection) Amendment Rules, 2019
Ministry of Environment, Forest and Climate change Vide Notification dated 26 December 2019, has issued Environment (Protection) Amendment Rules, 2019. The Amendment has imposed Standard Parameters for use of Effluents in Automobile Service Stations, Bus Depots or Workshops.
Priority and reservation for Kannadigas and disabled persons in industrial employment in the State of Karnataka.
The Government of Karnataka vide Notification dated 07/ 12/ 2019, has issued Karnataka Industrial Employment (Standing Orders) (Amendment) Rules, 2019 (“Amendment Rules”). Amendments is made to Schedule I to give protectional discrimination to Kannadigas and disabled persons in industrial employment in the State of Karnataka.
