OFFICE OF THE COMMISSIONER OF CUSTOMS (NS-I) MUMBAI ZONE-II, JAWAHARLAL NEHRU CUSTOM HOUSE, NHAVA SHEVA, TALUKA: URAN, DISTRICT RAIGAD, MAHARASHTRA-400707 F. No. S/22-Gen-402/2017-18/AM(I)Part-II Dated : 21.02.2020 PUBLIC NOTICE NO. 25/2020 DIN 20200278NW00007N570A Sub: . - regarding. Attention of the Importers, Exporters, General Trade, Port Terminal Operators, Shipping Lines/Shipping Agents, Customs Brokers, CFSs coming under the jurisdiction of JNCH, Nhava Sheva and al... ... ...

FOURTH SCHEDULE RISK MANAGEMENT [see regulation 23(1)] Effective risk management is crucial for the long-term stability and success of any Scheme, as, given the complexity and scale of its operations, it requires the identification, assessment, and mitigation of risks across various categories - from financial market risks to operational and regulatory risks - within a robust framework that enables the Pension Fund to manage these risks effectively, safeguard investor interests, and com... ... ...

THIRD SCHEDULE PART - A PERMISSIBLE INVESTMENTS AND LIMITS [see regulation 19(2)] All exposures shall be calculated based on the total value of the portfolio. I. Fixed income instruments 1. Government bonds: 100% of the portfolio may be allocated in sovereign debt, such as Government of India bonds, and highly rated public sector bonds. 2. Corporate bonds: A maximum of 40% may be allocated to corporate bonds, of which at least 70% shall be invested in securities ... ... ...

HON'BLE MR. R.M. SAHAI AND HON'BLE MR. N.P. SINGH, JJ. ORDER We have heard learned counsel for the Collector of Central Excise. We are not inclined to admit this appeal. It is accordingly dismissed. =============... ... ...

SECOND SCHEDULE HEALTHCARE BENEFIT OPTION [see regulation 17(2)] Compliance requirements for offering healthcare benefit option - 1) Sub-account: The Pension Fund must maintain a separate "Healthcare Sub- Account" for the Subscribers who opt for this benefit, and contributions to this subaccount shall be kept distinct from the main pension contributions. 2) Regulatory Approval: A Pension Fund intending to offer this option shall obtain prior approval from the International Financi... ... ...

FIRST SCHEDULE FIT AND PROPER REQUIREMENTS [see regulations 7(1) and 13(4)] A person shall be deemed to be a fit and proper person if:- (a) such person has a record of fairness and integrity, including but not limited to- (i) financial integrity; (ii) good reputation and character; and (iii) honesty. (b) such person has not incurred any of the following disqualifications - (i) the person has been convicted by a court for any offence ... ... ...

49. On and from the commencement of these regulations, any regulations notified by the Pension Fund Regulatory and Development Authority shall not apply to a pension scheme approved by the Authority to the extent they are inconsistent with these regulations. =============... ... ...

48. The powers exercisable by the Authority under these regulations shall also be exercisable by any officer of the Authority to whom such powers are delegated by the Authority. =============... ... ...

47. A Pension Fund shall have robust cyber security and cyber resilience framework in accordance with the requirements as may be specified by the Authority from time to time. =============... ... ...

46. In order to remove any difficulties in the interpretation or application of the provisions of these regulations, the Authority may issue directions, clarifications, guidance notes or subsidiary instructions. =============... ... ...

45. The Authority may, from time to time, specify norms, procedures, processes or additional requirements, by way of subsidiary instruction, for the purposes of implementation of these regulations and matters incidental thereto. =============... ... ...

44. The Authority may call for any information, document or record from a Pension Fund, Trustee, Custodian or any other person associated with the pension ecosystem in the International Financial Services Centre. =============... ... ...

CHAPTER IX MISCELLANEOUS PROVISIONS 43. (1) The Authority, for reasons to be recorded in writing, may in the interest of development of pension ecosystem in International Financial Services Centre, relax the strict enforcement of any provision of these regulations. (2) For seeking relaxation under sub-regulation (1), an application giving details and the grounds on which such relaxation is being sought, shall be filed with the Authority along with such non-refundable fee as may be s... ... ...

42. (1) The Authority may initiate such action as it deems fit, in case a Pension Fund, Custodian or any other person associated with the pension related activities in International Financial Services Centre contravenes any of the provisions of these regulations, subsidiary instruction issued thereunder. (2) No action referred to under sub-regulation (1) shall be taken without giving a Pension Fund, Custodian, or any other person associated with the pension related activities in Internati... ... ...

CHAPTER VIII COMPLIANCE AND ENFORCEMENT 41. (1) The Authority may, suo motu or upon receipt of information or complaint, undertake the inspection of the books, accounts, records, documents, infrastructure, procedures and systems of a Pension Fund, Custodian, Trustee or any other person associated with the pension ecosystem in the International Financial Services Centres, for any of the following purpose: i) ensuring compliance with these regulations; ii) protecting th... ... ...

40. (1) Assets and liabilities of the Scheme shall be valued on daily basis, at market prices, as per the methodologies fully disclosed and documented by the Pension Fund. (2) The Net Asset Value (NAV) per unit for each Scheme shall be calculated and declared daily, based on the total value of assets less liabilities, divided by the number of outstanding units. (3) For the purpose of carrying out valuation functions, a Pension Fund may appoint a valuer registered with the Insolvency an... ... ...

CHAPTER VII FINANCIAL ASPECTS 39. (1) A Pension Fund shall take prior approval of the Authority to levy fees and charges on the Subscribers. (2) The charges mentioned under sub-regulation (1) may include account opening charges, annual maintenance charges, investment management fees (as a percentage of Assets under Management), and transaction charges. (3) A Pension Fund shall disclose complete details of all fees and charges proposed to be levied on the Subscribers, in the Schem... ... ...

38. A Pension Fund shall pay annual fees, Scheme Information Document filing fee, and any other fees as may be specified by the Authority from time to time. =============... ... ...

37. A Pension Fund shall seek prior approval of the Authority in case of any direct or indirect change in its control: Provided that where a Pension Fund operating in the form of a branch is required to take prior approval from its sectoral regulator in its principal place of operation, it shall only inform such change to the Authority, within fifteen (15) days thereof. =============... ... ...

36. (1) A Pension Fund shall be responsible for promoting financial literacy among potential Subscribers and providing timely, accurate and comprehensive information regarding the operation of the scheme, the risks associated with various investment options, fee structures and the subscriber's rights and responsibilities. (2) A Pension Fund shall ensure that all key educational materials, performance disclosures and details pertaining to the Scheme are made available to every Subscrib... ... ...