Board notification requirement: field formations must inform the Board and avoid direct policy correspondence with other ministries.
Field formations must inform the Board of any references or matters having policy implications and should generally avoid direct correspondence with other Ministries or Departments on such matters; the Board will examine policy issues to ensure a uniform approach across field formations, enable coordinated action (including increased scrutiny of similar consignments when warranted), and must be kept informed even when direct interdepartmental communication is undertaken.

Excise duty on branded garments clarified: logos or manufacturer names alone do not make goods branded; self certification allowed.
Readymade garments and made-up textile articles bearing an institution's name or logo, or merely marked with a tailor's or manufacturer's name, do not by themselves qualify as branded goods for excise levy; a nexus between the brand name and the product at sale is required. For small-scale exemption eligibility, chartered accountant certificates or self-certification are acceptable and VAT records of production, clearance and purchases may be used for Central Excise compliance.

Digital certification of ROC-issued corporate certificates mandated, replacing manual issuance and requiring transition to electronic signatures.
All statutory certificates and standard letters issued by the Registrar of Companies will be issued electronically under a Digital Signature via the MCA-21 system; thirteen certificate types have been implemented as digitally signed outputs, remaining certificates will be implemented imminently, manual issuance of implemented certificates is discontinued, and any pending manual certificates must be issued by the prescribed transitional cutoff.

Deputation appointment for Deputy Development Commissioner: eligibility, documentation and deputation terms governing selection and posting for central government service
Filling one post of Deputy Development Commissioner on deputation is proposed; duties include project scrutiny under EOU/EPZ/SEZ schemes, policy and licensing work, coordination with state departments, and general administration. Recruitment is by promotion/transfer on deputation from Central/State Government officers meeting specified service and experience criteria; departmental feeder officers may be deemed promoted if selected. Applications in duplicate must include five years' confidential reports, integrity certificate, vigilance clearance and penalty records and be submitted within sixty days; appointment is on deputation with prescribed allowance rules.

Prior approval for change in control now required; other status changes must be reported quarterly by bankers to an issue.
The amendment dispenses with prior SEBI approval for changes in status or constitution of bankers to an issue but requires prior approval for any change in control; bankers must report in quarterly filings specified events, and must indicate if no change occurred.

Change in control: SEBI approval remains required; debenture trustees must report structural, director and shareholding changes quarterly.
SEBI removed the general prior-approval requirement for debenture trustees' changes in status or constitution while retaining prior approval for change in control; trustees must report corporate restructuring, director changes, and non-control shareholding changes in their quarterly filings, and must indicate if no change occurred.

Standard Input-Output Norms modification allows handles on specified engineering exports and permits additional input materials.
Amendments widen the Standard Input-Output Norms for SIONs C-390 and C-1538 to permit handles made of polypropylene, fiberglass (FRP) or wood and to add corresponding import input items-Roving 4800 Tex Glass, Resin GP/Isothermic, Polypropylene and Relevant Wood Blank-with specified input weights. Notes clarify applicability of fiberglass-plus-PP inputs versus wood blanks and provide for proportionate calculation of inputs where handle weight differs from the stated baseline.

Standard Input-Output Norms amendment sets allowed lug cap inputs and limits CIF value of certain imports relative to FOB.
Amendment to SION C-773 broadens the lug cap product description to include plain and printed lug caps and lists permitted imported inputs-Electrolytic Tin Plate, PVC lining compound, internal primer and adhesive lacquers, external base coat, and varnish-with specified quantities per kg of export product. The amendment also allows printing inks as an additional input for printed lug caps and imposes CIF value caps on specified imported inputs relative to the FOB value of exports to facilitate import of raw materials.

Compliance requirement: registrars will refuse event filings until defaulting companies file required financial statements and annual returns.
The Registrar of Companies shall refuse to record any event-based information or changes for defaulting companies unless they first file updated Balance Sheet, Profit & Loss Accounts and Annual Return. This restriction applies to companies and their directors who have not filed the specified documents for any of the financial years 2006-07 through 2009-10, and is effective from 3 July 2011.

Self-assessment of customs duty places assessment responsibility on importers/exporters while enabling customs verification and reassessment.
Self-assessment places the duty to declare classification, value, applicable rates and exemptions on the importer or exporter when presenting electronic Bills of Entry or Shipping Bills, while Customs retains selective verification, examination and re-assessment powers via the Risk Management System. Where verification cannot be completed before clearance, the proper officer may permit provisional assessment against security, which later converts into final assessment or re-assessment. Electronic filing is mandated where feasible, with limited manual filing permitted in genuine cases and on-site Post Clearance Audit envisaged.

Prior approval for change in control required; depositories must report specified participant status changes periodically to regulator.
Depositories must submit quarterly reports in the prescribed Annexure A format to the regulator covering: corporate restructuring (amalgamation/demerger/consolidation), changes in directors (including managing/whole time directors), changes in shareholding not amounting to change in control, and other matters as appropriate; reports must state if no change occurred and follow procedural guidelines including separate annexures per change type, authorized signature and stamp, electronic and hard copy submission, and inclusion of implementation status in Monthly Development Reports.

Change in control: prior approval required; CRAs must report specified corporate and management changes in half yearly filings.
Prior approval by credit rating agencies is required only for change in control; other changes no longer need prior approval but must be reported in the half yearly Action Taken Report, including corporate restructuring (amalgamation, demerger, consolidation), change in directors (including managing or whole time directors), and shareholding changes not resulting in change in control; a negative declaration is required if no change occurred.

Prior approval for change in control required; other status or constitution changes reported semiannually to regulator.
SEBI removed the prior-approval requirement for changes in status or constitution of merchant bankers but retained prior approval for change in control. Merchant bankers must report specified events in their half-yearly reports: corporate restructurings (amalgamation, demerger, consolidation), changes in directors including managing/whole-time directors, and shareholding changes not resulting in change of control.

Change of control requirement for underwriters: prior approval retained while other changes require half yearly reporting to regulator.
Amendment removes the general prior approval requirement for underwriters except that prior approval for change in control remains; underwriters must file a half yearly electronic report within 15 days of the half year end reporting amalgamation/demerger/consolidation or similar corporate restructuring, director changes, partnership partner changes not amounting to dissolution, and shareholding changes not causing change in control, using the prescribed email address and subject line, and indicating if no changes occurred.

Prior approval for change in control required; other registrar status changes must be reported quarterly to the regulator.
SEBI removed the requirement for prior approval for changes in status or constitution of RTI/STAs but retained prior approval for change in control. RTI/STAs must report quarterly specified events-corporate restructurings (amalgamation, demerger, consolidation), any change in directors, partner changes not amounting to dissolution, and shareholding changes not resulting in change of control-and must indicate if no change occurred.

Promoter shareholding dematerialization requirement: non-compliant securities to be traded only in trade-for-trade segment as reported to exchanges.
Companies' securities will be admitted to trading in the normal segment only if the company has achieved 100% of promoter and promoter group shareholding in dematerialized form as reported to the stock exchanges; otherwise securities will trade in the trade-for-trade segment, with exchanges required to use the latest shareholding pattern filed under the listing agreement for assessment.

Export allocation rules for cotton: pro rata registration with eligibility tied to prior year export performance and compliance.
Allocation and registration for the additional cotton export quantity is available only to exporters with cotton exports in either of the two preceding cotton years; allocation is on a pro rata basis with a per IEC ceiling of 4,250 MT and a floor of 100 MT, and applicants may seek up to the higher of their prior year exported quantities (subject to the ceiling), with all applications in metric tonnes.

Extension of DEPB Scheme: operative period prolonged, allowing DEPB benefits to continue until 30 September 2011.
The Director General of Foreign Trade amends Para 1.1 of the Handbook of Procedures v1 to replace the phrase limiting the DEPB Scheme to 30th June 2011 with a provision that the DEPB Scheme shall continue to be operative till 30th September 2011, while HBP v.1, HBP v.2 and the Schedule of DEPB rates remain in force until 31st March 2014.

Investor Protection Fund rules amended: fixed claim period, asset return order, and exchange bylaw amendments required.
The Circular fixes a minimum ninety day specified period for inviting legitimate claims, requires exchanges to bear eligible claims arising within three years of that period without recourse to IPF/CPF, allows post three year claims to be treated as civil disputes, and permits retention of residual amounts while litigation is pending. It deletes Clause 22, confirms IPF/CPF disbursement only where broker assets are insufficient, and mandates that realized assets be returned to the defaulter only after satisfying claims of the exchange, SEBI, and, for multi exchange brokers, other exchanges; exchanges must amend bye laws, notify members, and report implementation.

Change of company name compliance now allows revenue or substantial asset investment test, with auditor certificate required.
The prior revenue-based test for change of name is supplemented by an alternative asset-investment test: companies may comply either by showing the new activity accounted for a majority of prior year revenue or by demonstrating that investment in the new activity (fixed assets + advances to contractors/suppliers specific to the project + works-in-progress) equals at least half of company assets; compliance must be supported by an auditor's certificate submitted to the exchange.