In this edition we have tried to bring you notice the latest amendment that followed in the month of January, 2022 issued by MCA, RBI, SEBI, DIPP and others.
Amendments issued by MCA
Companies (Registration Offices and Fees) Amendment Rules, 2022:
In exercise of the powers conferred by sections 396, 398, 399, 403 and 404 read with subsections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby make rules further to amend the Companies (Registration Offices and Fees) Rules, 2014. These rules may be called the Companies (Registration Offices and Fees) Amendment Rules, 2022 & they shall come into force with effect from 1st July, 2022.
In the Companies (Registration Offices and Fees) Rules, 2014, in the Annexure, in item I (Fee for filing under section 403 of the Companies Act, 2013), for sub-item B, the given sub-item shall be substituted.
To read more: https://www.mca.gov.in/bin/dms/getdocument?mds=T%252F%252B384mFkSrHFx1liwRTnQ%253D%253D&type=open
Effective date of section 80 of Companies (Amendment) Act, 2017:
MCA notifies section 80 of Companies (Amendment) Act, 2017 shall come into force w.e.f 1st July, 2022 which relates to amendment in Section 403 of Companies Act, 2013. Section 403 of Companies Act,2013 deals with Fee for Filing, etc.
To read more: https://www.mca.gov.in/bin/dms/getdocument?mds=VrIKR5%252BwlgL7%252BmN7eJV%252BIg%253D%253D&type=open
Submission of IPR for the year 2021 till 31.01.2022:
In terms of Rule 18(1) (ii) of the CSS (conduct) Rules, 1964, every government servant is required to submit an annual immovable property return (IPR) giving full particulars of their immovable property inherited by them or held by them on lease or mortgage either in their own name or in the name of any member of their family or in the name of any other person. The IPR for the year 2021 as on 31.012.2021 submitted/received after 31.01.2022 will not be accepted and the guidelines for submitting the same are given.
To read more: https://www.mca.gov.in/bin/dms/getdocument?mds=ZIhpuPYd0ITFeI94EVScmg%253D%253D&type=open
Amendments issued by RBI
RBI issues regulations under the amended Factoring Regulation Act, 2011:
Government of India has recently amended the Factoring Regulation Act, 2011 (“the Act”) which widens the scope of companies that can undertake factoring business. Further, the Act empowers the Reserve Bank of India to make regulations prescribing the manner of grant of certificate of registration and for prescribing the manner of filing of assignment of receivables transactions by TReDS on behalf of the Factors & in the exercise of the powers conferred under the Act, the Bank has issued the following regulations:
- Registration of Factors (Reserve Bank) Regulations, 2022
- Registration of Assignment of Receivables (Reserve Bank) Regulations, 2022
To read more: https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=53131
Basel III Framework on Liquidity Standards:
With the objective to better align guidelines with the BCBS standard and enable banks to manage liquidity risk more effectively, it has been decided to increase the threshold limit for deposits and other extensions of funds made by non-financial Small Business Customers from 5crore to 7.5crore for the purpose of maintenance of Liquidity Coverage Ratio (LCR).
To read more: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12220&Mode=0