Tea (Marketing) Control (Amendment) Order, 2021
The amendment revises Form-A for Application for Registration, Form-G for Application for license and Form-K for Application for issuance of a certificate under tea (marketing) control order 2003.
IRDAI revokes guidelines on “Indian owned and controlled”
The definitions of “Control”, “Indian Control of an Indian Insurance Company” and “Indian Ownership” provided under Indian Insurance Companies (Foreign Investment) Rules, 2015 have been omitted vide Indian Insurance Companies (Foreign Investment) (Amendment) Rules, 2021. In furtherance of the same, IRDAI revokes guidelines on “Indian owned and controlled”.
Accounting Standard to be followed by IFSC Banking Units (IBUs)
The IBUs whose parent banks are following the IFRS, may prepare their standalone financial statements also as per the IFRS, from the beginning of the quarter / half-year starting from October 1, 2021.
Draft IFSCA (Registration of Insurance Business) Regulations, 2021
IFSCA has published the consultation paper and Draft IFSCA (Registration of Insurance Business) Regulations, 2021 to establish a regulatory framework for the insurers and reinsurers in IFSC by adopting international best practices.
CBDT extends due dates for electronic filing of various Forms under the Income-tax Act, 1961.
The quarterly statement in form number 15CC to be furnished by authorised dealer in respect of remittances made for the quarter ending June 30, 2021, required to be furnished on or before July 15, 2021, has been extended further to on or before August 31, 2021.
MoHFW revises Guidelines for issuance of Statement of Need (SON) Certificate/ Exceptional Need Certificate (ENC)/ No Obligation to Return to India (NORI) Certificate.
As per the new guidelines, applications for extension of Statement of Need Certificate (SON) and Exceptional Need Certificate (ENC) to Indian Medical doctors shall be processed only by the Ministry of Health and Family Welfare.
SEBI permits non-scheduled payment banks to register as bankers to an issue.
To provide easy access to investors to participate in public and rights issues by using various payment avenues, SEBI has allowed payments banks to carry out the activities of investment bankers.
RBI issues framework for Outsourcing of Payment and Settlement-related Activities by Payment System Operators (PSO).
The framework is not applicable to activities other than those related to payment and/or settlement services, such as internal administration, housekeeping or similar functions.
The Central Motor Vehicles (Sixteenth Amendment) Rules, 2021.
The Amendment is brought under rule 81 which pertains to the various fees chargeable to vehicle owners ranging from grant and renewal of trade certificate for vehicles to issue of registration certificates, transfer of ownership and more.
Government of Tamil Nadu extends the fire license for another 6 months.
The Validity period for statutory licenses given by departments like fire and rescue services, industries & pollution control board which will expire in May 2021 has been extended by six more months.
