SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2024
This move, encapsulated in the SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2024, aims to refine the regulatory landscape for FPIs operating in India. These changes are geared towards enhancing compliance, simplifying regulatory procedures, and ensuring a more streamlined process for foreign investors.
Master Circular for Bankers to an Issue
In respect of the registration applications pursuant to transfer of business (SEBI regulated business activity) from one legal entity, which is a SEBI registered Intermediary (transferor), to other legal entity (transferee), it is clarified that the transferee shall obtain fresh registration from SEBI in the same capacity before the transfer of business if it is not registered with SEBI in the same capacity.
CBIC directions for disbursal of Drawback amounts into the exporters’ accounts through PFMS
With effect from 5h June, 2024, payment of Drawback amounts into the exporters’ accounts post scroll out, will be facilitated through the Public Finance Management System (PFMS).
Guidelines for initiation of recovery proceedings before three months from the date of service of demand order
The guidelines provides that any amount payable by a taxable person in pursuance of an order passed under CGST Act shall be paid by such person within a period of three months from the date of service of such order failing which recovery proceedings shall be initiated.
FSSAI Re-operationalizes Food Safety and Standards (Licensing and Registration of Food Business) Amendment Regulations, 2021
FSSAI hasissued a direction on re operationalising draft amendments to the Food Safety and Standards (Licensing and Registration of Food Business) Regulations 2021 from November 11, 2023. These amendment regulations cover licensing procedures for e- commerce food businesses, documentation requirements for new restaurant licenses, and hygiene standards for all food operators. Food Business Operators have to follow these regulations and Improvement notice may be issued to them for compliance with schedule 4.
FSSAI Issues Advisory On Unauthorized Use Of Liquid Nitrogen In Food Serving Establishments
FSSAI has noticed unauthorized use of liquid nitrogen in food establishments, which is not permitted under current regulations. Although nitrogen is allowed in specific food categories, using liquid nitrogen directly at the point of serving is against regulations and considered as non-compliance. Any violations will lead to statutory action under the FSS (Food Safety and Standards) Act, 2006.
“Protecting Vulnerable Workers: Gurugram’s Heat Wave Directive”
In response to the escalating heat wave conditions in District Gurugram, the District Magistrate-Chairperson of the District Disaster Management Authority has issued a crucial directive aimed at safeguarding the well-being of vulnerable workers.
“Exclusive: Meghalaya Government’s Anti-Child Labor Initiative”
In a significant move aimed at enhancing the enforcement of the Child and Adolescent Labour (Prohibition and Regulation) Act, 1986, the Government of Meghalaya has appointed Deputy Labour Commissioners and Assistant Labour Commissioners as ex-officio District Nodal Officers.
BIS Issues Standards On Sanitary Appliances, Plywood, Health Care Products and Mechanical Equipment
The Bureau of Indian Standards (BIS) has issued revised certain standards on Sanitary Appliances and Mechanical Equipment. Additionally, BIS has introduced amendments to the standard of Methods of Test for Plywood and standard for Sterilization of Health Care Products. These notifications were published on May 30 and June 4, 2024.
BIS Revises Standards On Salts, Flour, Food Dyes and Cutting Tools
The Bureau of Indian Standards (BIS) has issued revised certain standards on Salts, Flour, Food Dyes and Cutting Tools. These standards were established in May 2024 and their previous versions will be withdrawn from August 2024.
