13 - Legal & Regulation Updates - India

RBI- Section 24 and Section 56 of the Banking Regulation Act, 1949 - Maintenance of Statutory        Liquidity Ratio (SLR)
	Reserve Bank of India (RBI) vide notification dated October 13, 2016 has decided that the Statutory Liquidity Ratio (SLR) securities acquired from RBI under Liquidity Adjustment Facility (LAF) shall be considered as eligible assets for SLR maintenance from October 3, 2016.
	Draft- Food Safety and Standards (Approval for Non-Specified Food and Food Ingredients) Regulations, 2016
	The Food Safety and Standards Authority of India through a Notice dated October, 4 2016 has invited objections or suggestions on the draft Food Safety and Standards (Approval for Non-Specified Food and Food Ingredients) Regulations, 2016.
	Draft- Food Safety and Standards (Fortification of Foods) Regulations, 2016
	The Food Safety and Standards Authority of India through a Notice dated October, 4 2016 has invited objections or suggestions on the draft Food Safety and Standards (Fortification of Foods) Regulations, 2016.  The objections or suggestions can be sent within a period of 60 days on the draft.
	Central Drugs Standard Control Organization- Implementation of Online portal SUGAM
	The Central Drugs Standard Control Organization Directorate General of Health Services, has issued a Notice dated October 5, 2016 relating to the Implementation of Online portal SUGAM. The development of software for filing online applications for Global Clinical Trials (GCT) has been completed and its robustness was tested by the industry users in several iterations. The module has already been live and applications can be filed online henceforth. However, those applicants desiring to file applications for obtaining permissions to conduct GCT are requested to register on the portal as per the prescribed procedure, if they have not already registered.
	Central Drugs Standard Control Organization- Streamlining activities under the Drugs & Cosmetics Act, 1940 and Rules 1945
	The Central Drugs Standard Control Organization Directorate General of Health Services, has issued a Notice dated October 6, 2016 for Streamlining the activities under the Drugs & Cosmetics Act, 1940 and Rules 1945.
	Central Motor Vehicles (18th Amendment) Rules, 2016
	The Ministry of Road Transport and Highways, via notification dated October 4, 2016, has issued the Central Motor Vehicles (16th Amendment) Rules, 2016 to amend the Central Motor Vehicles Rules, 1989.  After Rule 115E, the following rule shall be inserted
	Food Safety and Standards (Food Products Standards and Food Additives) Amendment Regulations, 2016
	The Food Safety and Standards Authority of India through a Notice dated October, 10 2016 has invited objections or suggestions on the draft Food Safety and Standards (Food Products Standards and Food Additives) Amendment Regulations, 2016.
	Food Safety and Standards (Food Products Standards and Food Additives) Ninth Amendment Regulations, 2016
	The Ministry of Health and Family Welfare via notification dated October 10, 2016 has issued Food Safety and Standards (Food Products Standards and Food Additives) Ninth Amendment Regulations, 2016 amending the Food Safety and Standards (Food Products Standards and Food Additives) Regulations, 2011.
	RBI- Master Direction - Non Banking Financial Company- Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016
	Reserve Bank of India (RBI) vide updated notification dated October 17, 2016 has issued amendments in the Master Direction - Non Banking Financial Company- Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016.
	SEBI - Facilitating transaction in Mutual fund schemes through the stock exchange infrastructure
	The Securities and Exchange Board of India (“SEBI”) has issued a Circular dated October 19, 2016 in furtherance of a previous Circular dated October 04, 2013. The October 04, 2013 Circular allowed only Mutual fund distributors to avail infrastructure of the Stock Exchanges (“SE”), for the purpose of purchasing and redeeming the Mutual funds units directly from the Mutual Fund (“MF”) or Asset Management Companies (“AMC”).
	CBDT - Income Tax (28th Amendment) Rules, 2016
	The Central Board of Direct Taxes (CBDT) has issued a notification amending the Income Tax rules. Vide this amendment, Part VII-BA is inserted. Part VII- BA refers to Special Provisions Relating to Tax on Distributed income of Domestic Company for Buy-Back of Shares.  The notification shall come into force from the June 1, 2016
	National Pharmaceutical Pricing Authority (NPAA) - draft version of 2 Proposed Price Calculation Sheets
	Via Office Memorandum dated October 18, 2016 NPPA has released the draft version of proposed price calculation sheets for 2 proposed revised/notified ceiling price/retail price on the website of NPPA. Draft of 2 calculation sheets based on Pharma Trac data are uploaded on the website.
	Draft-The Environment (Protection) Amendment Rules, 2016.
	The Ministry of Environment, Forest and Climate Change has issued a draft notification dated October 10, 2016 of The Environment (Protection) Amendment Rules, 2016. The objections or suggestions can be sent within a period of 30 days on the draft to the Member Secretary, CPCB and Mr. Dinesh Runiwal, JD (CP) at adaba.cpcb@nic.in and d.runiwal@gov.in The draft rules proposes to amend the Schedule I related to Ambient Air quality standards w.r.t noise in airport noise zone.

https://innovatorsrace50.com/team/compliance-watcher.html#.WJxAx8FH6A4.gmail