IFSCA notifies Regulatory framework for Angel Funds to facilitate investments in start-ups.
A Fund Management Entity (FME) in IFSC will be able to launch Angel Fund by filing a placement memorandum with the Authority under a Green Channel, i.e. the schemes can open for subscription by investors immediately upon filing the placement memorandum with the Authority.
IFSC invites public comments on the draft International Financial Services Centres Authority (Setting up and Operation of International Branch Campuses and Offshore Education Centres) Regulations, 2022.
The registration of IBC/OEC is provided to conduct educational and research courses, including executive education programmes in the GIFT IFSC and the regulations are intended to be the sole legal framework governing the establishment and operation of foreign universities or foreign educational institutions in the GIFT IFSC.
The International Financial Services Centres Authority (Banking) (Amendment) Regulations, 2022.
Under regulation 3(9), A Parent Bank may set up its Representative Office or Global Administrative Office in IFSC under a suitable mechanism, subject to such conditions as may be specified by the Authority.
SEBI notifies new format for disclosure of shareholding patterns.
As per the amendment, in the disclosure of public shareholding, names of the shareholders holding 1% or more than 1% of shares of the listed entity is to be disclosed and the Names of the shareholders who are persons acting in concert, if available, shall be disclosed separately.
Income-tax (20th Amendment) Rules, 2022
The amendment provides that where the exchange has agreed to pay tax in relation to a transaction of transfer of a virtual digital asset, owned by it, the Exchange shall deliver or cause to be delivered, a quarterly statement of such transactions in Form No. 26QF to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems).
Draft Central Motor Vehicles (Amendment) Rules, 2022
Objections and suggestions to these draft rules, if any, may be sent to the Joint Secretary (MVL), email: comments-morth@gov.in within 30 days of publication of this notification.
SEBI extends implementation of Circular on ‘Execution of ‘Demat Debit and Pledge Instruction’(DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re pledging of securities
The clients are allowed by the circular to use the DDPI or opt to complete the settlement by issuing physical Delivery Instruction Slip (DIS) or electronic Delivery Instruction Slip (eDIS) themselves.
CBDT has clarified the scope of the term non-fungible token under the Income Tax Act
he Central Government has specified that a token which qualifies to be a virtual digital asset shall be considered as a non-fungible token but shall not include a nonfungible token whose transfer results in transfer of ownership of underlying tangible asset and the transfer of ownership of such underlying tangible asset is legally enforceable.
