Remittance of assets compliance: financial year substitution and mandatory Chartered Accountant certificate format now required for remitters.
The Regulations substitute the term "financial year" for "calendar" year in specified provisions and require an undertaking by the remitter plus a Chartered Accountant certificate in the format prescribed by the CBDT Circular No. 10/2002, as inserted into multiple sub clauses of Regulation 4 and into Regulation 6(1)(i); the first proviso to Regulation 4(3) is omitted and the word "further" removed from the second proviso. These amendments are notified effective November 16, 2006, with certification that no person shall be adversely affected by the retrospective effect.

Special Court designation under the Prevention of Money laundering Act assigns Sessions Courts territorial jurisdiction to try money laundering offences.
The Central Government designates specified Courts of Sessions as Special Courts under the Prevention of Money laundering Act, in consultation with the High Court, and assigns defined revenue districts to each designated court to determine territorial jurisdiction for trial of offences under the Act.

Cross-border service payment guarantees permitted for resident importers to secure non-resident service providers under FEMA amendment.
An amendment to Regulation 4(3) of the Guarantees Regulations permits issuance of guarantees in favour of a non-resident service provider on behalf of a resident customer who is a service importer, subject to the specified de minimis monetary limit set by the amendment.