In furtherance of  Finance Minister’s Budget speech, an Expert Committee has been constituted to suggest simplified compliance.  The Expert Committee has been constituted with the following composition and terms of reference for examining the possibility of replacing multiple prior permissions with pre-existing regulatory mechanism and preparing a draft legislation for this purpose:

A.     Composition

B.     Terms of Reference: 

i)   Study the requirement of various prior permissions with an exhaustive inventory of such permissions;

ii)   Examine the possibility of replacing these prior permissions with a pre-existing (proposed) regulatory mechanism;

iii)  Identify safeguards to be put in place while replacing the system of prior permission and integrating these safeguards in the proposed regulatory mechanism;

iv)  Recommend a framework of the proposed regulatory mechanism; and

v)  Draft the proposed legislation.

 2.         The Expert Committee shall submit its report within 30 days.