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Amendments in the ITC (HS) Classifications of Export and Import Items, 2002-2007
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Export controls on onions require exports through designated state trading enterprises with capped fees and reporting duties.
Exports of onions (all varieties) must be effected only through a specified list of State Trading Enterprises, which may issue NOCs to associate shippers and charge a maximum service fee of 1% of invoice value; no other charges are permitted. All exports are subject to a Minimum Export Price fixed by NAFED. STEs must prevent trading in permits, ensure quality, provide weekly permit reports to NAFED and periodic shipment reports to the Department of Consumer Affairs, under conditions laid down by the Directorate General of Foreign Trade.
Moradabad Special Economic Zone Notified
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Special economic zone designation establishes territorial boundaries and applicability of Central Excise non tariff rules for Moradabad area.
The Central Government specifies Moradabad in Uttar Pradesh as a special economic zone under clause (iii) of Explanation 2 to the proviso to sub section (1) of section 3 of the Central Excise Act, 1944, recording a total area of 421.565 acres and listing the villages Karanpur, Kondari, Bahadurpur Rajput and Lalpur Gangawari with their respective khasra numbers to define the SEZ territory.
Anti-dumping duty on steel and fibre glass tapes and their parts and components, originating in, or exported from, People’s Republic of China — Notification No. 65/2003-Cus. rescinded
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Anti-dumping rescission on imports from China ends earlier duty, subject to prior actions under Customs Tariff Act.
The Central Government rescinds the notification imposing anti-dumping duty on steel and fibre glass tapes and their parts and components originating in, or exported from, the People's Republic of China, exercising powers under section 9A(2) of the Customs Tariff Act read with rule 13 of the Anti-dumping Rules, while preserving actions or omissions done before such rescission.
Anti-dumping duty on steel and fibre glass tapes and their parts and components, originating in, or exported from, People’s Republic of China
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Anti dumping duty on steel and fibreglass measuring tapes imposed, applying specified per unit margins and payable in domestic currency.
Anti dumping duty is imposed on steel and fibreglass measuring tapes and their parts originating in or exported from the People's Republic of China, calculated as the difference between a specified per unit amount and the landed value per kilogram, applied to listed tariff sub headings and territorial combinations, effective from the provisional duty date and payable in Indian currency; "landed value" and the applicable exchange rate are defined for calculation.
Appointment of the Commissioner of Customs (Appeals)
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Appointment of Commissioner of Customs (Appeals) reallocates appellate jurisdiction to Mumbai II for a specified filing period.
The Central Board of Excise and Customs, exercising powers under sub section (1) of section 4 of the Customs Act, 1962, appoints the Commissioner of Customs (Appeals), Mumbai II, to decide appeals filed before the Commissioner of Customs (Appeals), Mumbai I, for the specified historical filing period; the notification reallocates appellate decision making authority within the customs appellate structure and establishes the temporal scope of that administrative delegation.
Notification by which eleven more companies to be declared as Nidhis.
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Declaration of Nidhis: Eleven companies designated as Nidhis subject to statutory directions and schedule adaptations under Companies law.
Declaration that eleven specified companies are Nidhis under the Companies Act, effected by a Government notification listing each company and its registered office, subjecting them to directions in earlier notifications and prescribing that certain statutory provisions shall not apply or shall apply with stated exceptions, modifications and adaptations; the notification amends the principal notification's schedule by inserting entries for each newly declared Nidhi to reflect their regulatory treatment.
Anti-dumping duty on Para cresol
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Anti-dumping duty on para cresol imposed to offset dumped imports, calculated as specified differential per metric tonne.
A definitive anti-dumping duty is imposed on para cresol (tariff item 2907 12 10) directed at imports originating in or exported from the People's Republic of China and at exports from any country where the country of export is the People's Republic of China. The duty, applicable to all specifications, producers and exporters, is calculated as the difference between a specified US dollar amount per metric tonne and the landed value of imported goods; it is payable in Indian currency and has effect from the date provisional duty was imposed. "Landed value" and exchange-rate rules for calculation are defined by reference to the Customs Act.
Anti-dumping duty on Vitamin E Acetate
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Anti-dumping duty on Vitamin E imports from China establishing definitive duty rates and calculation and applicability rules.
Anti-dumping duty is imposed on Vitamin E (Acetate and Feed Grade) from the People's Republic of China after findings of export below normal value causing material injury. Definitive duties equal the difference between specified per-unit amounts and the landed value are prescribed in a table for listed tariff items and specifications, applicable to any producer or exporter. Amounts for other concentrations are pro rated; ''landed value'' is the assessable value under the Customs Act excluding certain duties; exchange rates follow periodic notifications and the relevant date is bill of entry presentation.
Anti-dumping duty on Calcium carbide, originating in, or exported from, China and Romania — Amendment to Notification No. 77/2000-Cus.
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Anti-dumping duty continuation on calcium carbide extended pending review, preserving import restrictions under Customs Tariff Act powers by government.
An amendment to Notification No. 77/2000-Cus extends the anti-dumping duty on calcium carbide from China and Romania by inserting a paragraph after the TABLE to continue the duty for a further specified period unless revoked earlier, effected under powers in the Customs Tariff Act and the anti dumping rules pending completion of a review.
Amendment in the notification No. 62/94-CUSTOMS (N.T.), dated the 21st November, 1994
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Customs amendment designates Kudankulam to permit unloading of imports and loading of exports under the notification framework.
An amendment inserts item (14) Kudankulam into the Table for Tamil Nadu in notification No. 62/94-CUSTOMS (N.T.), authorizing the unloading of imported goods and loading of export goods or any class of such goods at that location, effected under the powers of the Customs Act as a further modification to the principal notification.
Foreign Exchange Management (Establishment in India of branch or office or other place of business) (Second Amendment) Regulations, 2003
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Exemption for SEZ units: SEZ branches may be established without prior RBI approval subject to sectoral FDI, Companies Act compliance, and stand-alone operation.
The Regulations add a stand alone basis definition to restrict specified branch offices to Special Economic Zones and exempt companies from prior RBI approval to establish branches or units in SEZs for manufacturing and services, provided they operate in sectors permitting full FDI, comply with Companies Act corporate and winding-up provisions, function on a stand-alone basis, and use an Authorised Dealer with required documents for remittance of winding-up proceeds.
Foreign Exchange Management [Withdrawal of General Permission to Overseas Corporate Bodies (OCBs)] Regulations, 2003
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Withdrawal of OCB general permission restricts OCB banking and investment privileges and mandates account closure and repatriation.
The Regulations withdraw the general permission for Overseas Corporate Bodies (OCBs) to transact under FEMA, prohibit opening new accounts and new investments, require closure or conversion of specified existing accounts with repatriation or restricted disposal of balances, bar residents from borrowing from or lending to OCBs and prevent renewal of outstanding loans, while permitting limited forward contract hedges for specified existing investments and account balances and amending FEMA regulations to delete OCB references.
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Third Amendment) Regulations, 2003
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Entity incorporated outside India definition tightened, narrowing regulatory reference to incorporated foreign entities in securities transfers.
The amendment inserts a definition that entity incorporated outside India means an entity incorporated or registered under the host country's statutes or laws, and substitutes wording in an operative provision to replace a broader reference to entities outside India "whether incorporated or not" with the narrower phrase "entity incorporated outside India", thereby focusing the Regulations on incorporated/registered foreign entities.
Securities and Exchange Board of India (Credit Rating Agencies) (Second) (Amendment) Regulations, 2003.
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Code of conduct for credit rating agencies mandates independence, disclosure of methodology, conflict controls and governance safeguards.
Amendment substitutes the Third Schedule to SEBI (Credit Rating Agencies) Regulations, 1999 prescribing a Code of Conduct requiring credit rating agencies to protect investor interests, maintain integrity, independence and objectivity, base ratings on adequate research and records, disclose rating methodology and conflicts, avoid unfair competition and misuse of privileged information, refrain from offering fee-based services to rated entities beyond ratings and research, notify the Board of material regulatory or registration changes, transfer outstanding business as instructed by affected clients, and implement internal codes, governance and compliance mechanisms including empowered compliance officers and senior management access to information.
Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2003
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Code of conduct for bankers to an issue mandates investor protection, conflict disclosure and prohibition of insider trading.
The amendment substitutes a new Code of Conduct for Bankers to an Issue, imposing duties to protect investors by observing integrity, due diligence, independent professional judgment and prompt, ethical performance. It prescribes grievance redressal mechanisms, timely submission of collection figures, specific prohibitions (no collusion, no late acceptance of applications, no parting with issue proceeds before listing), disclosure and resolution of conflicts of interest, prohibition of insider trading and market manipulation, and requirements for internal controls, fit-and-proper personnel, and compliance-officer authority.
Securities and Exchange Board of India (Underwriters) (Amendment) Regulations, 2003.
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Underwriter Code of Conduct requires disclosure, conflict resolution, confidentiality and prohibition on insider trading by intermediaries.
Amendment substitutes Schedule III prescribing a Code of Conduct for Underwriters requiring protection of client interests, integrity, due diligence, confidentiality, and avoidance of misleading statements. It mandates disclosure and resolution of conflicts of interest, disclosure of interests when giving public investment advice, and a prohibition on insider trading and market manipulation. Underwriters must maintain internal controls, adequate supervisory and financial capacity, empower compliance officers, adopt internal codes of conduct, ensure personnel are fit and proper, and notify SEBI of material legal actions or adverse changes affecting clients.
Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) (Amendment) Regulations, 2003.
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Registrar conduct standards require due diligence, conflict disclosure, prompt investor redressal and compliance with record-transfer obligations.
The amended Code of Conduct requires Registrars to maintain integrity, exercise due diligence and independent professional judgment, verify listing before dematerialisation, attend promptly to investor inquiries and grievances, and ensure timely transfer, dematerialisation/rematerialisation and distribution of corporate benefits. Registrars must avoid and disclose conflicts of interest and adopt mechanisms to resolve them, maintain adequate internal controls and data continuity with backups, cooperate with the Board, comply with Ombudsman awards, hand over client records within one month of contract termination or registration cancellation, and refrain from market manipulation or disclosure of unpublished price sensitive information.
Securities and Exchange Board of India (Depositories and Participants) (Third Amendment) Regulations, 2003.
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Code of Conduct for Participants requires depository participants to protect investors and comply with operational, disclosure, and governance obligations.
Regulation 20A inserts a mandatory Code of Conduct requiring depository participants to protect investors by maintaining integrity, providing prompt and competent services, opening and processing beneficial owner accounts without delay, redressing grievances within one month, giving advance notice of fee increases, preserving client confidentiality, cooperating with the Board, complying with applicable laws and Ombudsman awards, maintaining internal controls, record continuity and backups, empowering compliance officers, and ensuring senior management access to business information and sound corporate governance.
Securities and Exchange Board of India (Debenture Trustees) (Amendment) Regulations, 2003.
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Debenture Trustee Code of Conduct strengthens duties on confidentiality, conflict disclosure, due diligence and prohibition on insider trading.
Substituted Schedule III prescribes a Code of Conduct for debenture trustees requiring protection of debenture holders' interests, high standards of integrity, prompt and professional performance, due diligence, client identification and record-keeping, confidentiality subject to law, and prompt disclosure to clients of changes in registration status or material adverse financial positions with provision to transfer outstanding business. It mandates disclosure and resolution of conflicts of interest, prohibition of unfair competition and insider trading, truthful reporting to the regulator, adequate supervision and internal controls, fitness of personnel, empowerment of a compliance officer, and prohibition of market manipulation and passing unpublished price-sensitive information.
Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2003
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Code of Conduct for Merchant Bankers requires investor protection, disclosure, conflict management and prohibition of market manipulation.
The amendment replaces Schedule III to prescribe a Code of Conduct for Merchant Bankers imposing duties to protect investors, maintain integrity and due diligence, make timely and adequate disclosures, avoid and manage conflicts of interest through disclosure and resolution mechanisms, preserve client confidentiality except as legally required, notify clients of material changes affecting them, maintain internal controls and supervision, empower compliance officers, ensure fitness of personnel, and prohibit market manipulation and dissemination of unpublished price sensitive information.

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