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In This Issue

[No.37]                                                                        Jan 10, 2003

SEBI
CBDT
CBEC Excise Tariff
CBEC Customs Tariff
CBEC Customs Non Tariff
RBI
DGFT
Department of Commerce
Department of Industrial Policy
Ministry of Environment and Forests
Ministry of Chemicals and Fertilizers
Department of Health
Ministry of Personnel, Public Grievances and Pensions
Ministry of Petroleum
Ministry of Railways
Ministry of Road Transport and Highways
PIB

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SEBI

Secondary Market Department

  • Time frame for payment of atleast 50% of the principal fees payable by stock brokers

Circular No. SMD/DBA-II/Cir-01/178 /03 Dated 03.01.2003 : Exchanges have been advised to inform their members that the facility of payment of 50% of principal fees payable by them in conformity with SEBI (Stock Brokers & Sub-brokers) Regulations 1992 amended as on February 20, 2002 read with SEBI circular dated March 28, 2002 and circular dated September 30, 2002 would not be available after March 31, 2003.

  • Renewal of Recognition to Jaipur Stock Exchange Ltd.

Notification No. SO1393(E) Dated 31.12.2002 : SEBI has granted renewal of recognition to the Jaipur Stock Exchange Ltd. for one year commencing on January 9, 2003 and ending on January 8, 2004, in respect of contracts in securities subject to the conditions specified.

  • Guidelines for Participation by Mutual Funds in Trading in Derivative Products 

Circular No. MFD/CIR/21/ 25467/2002 Dated 31.12.2002 : With reference to SEBI circular no MFD/CIR/011/061/2000 dated February 9, 2000 wherein guidelines were issued for mutual funds to participate in Derivatives trading for the purpose of hedging and portfolio balancing, SEBI Advisory Committee on Derivatives has clarified certain types of transactions with illustrative examples which may be considered as hedging and portfolio balancing.

Depositories And Custodian Division

  • Directions to Registrars and Share Transfer Agents

Circular No. D&CC/FITTC/CIR – 17/2002 Dated 31.12.2002 : All the registrars and share transfer agents (RSTA) have been directed, that:

1. They shall maintain records of all the shares dematerialised, rematerialised and details of all securities declared to be eligible for dematerialisation in the depositories and ensure that dematerialisation of shares shall be confirmed / created only after an in-principle approval of the stock exchange / s where the shares are listed and the admission of the said share with the depositories have been granted. 

2. They shall have proper systems and procedures in place to verify that the securities tendered for dematerialisation have not been dematerialised earlier. 

3. They shall ascertain, reconcile daily and confirm to the depositories that the total number of shares held in NSDL, CDSL and in the physical form tallies with the admitted, issued and listed capital of the issuer company; and 

4. They shall confirm that the dematerialisation requests have been processed within 21 days and shall also state the reasons for shares pending confirmation for more than 21 days from the date of request

  • Secretarial Audit

Circular No. D&CC/FITTC/CIR – 16/2002 Dated 31.12.2002 : It has been decided that all the issuer companies shall subject themselves to a secretarial audit to be undertaken by a qualified Chartered Accountant or a Company Secretary, for the purposes of reconciliation of the total admitted capital with both the depositories and the total issued and listed capital. The issuer companies shall submit the audit report on a quarterly basis to the stock exchange/s where they are listed. Any difference observed in the admitted, issued and listed capital shall be immediately brought to the notice of SEBI and both the Depositories by the stock exchanges. 

  • Appointment of common agency for share registry work

Circular No. D&CC/FITTC/CIR-15/2002 Dated 27.12.2002 : It has been decided that all the work related to share registry in terms of both physical and electronic should be maintained at a single point i.e. either in-house by the company or by a SEBI registered R & T Agent.

CBDT

  • Notifications under various sections of the Income Tax Act, 1961

Notification No. 399/2002 to No. 412/2002 Dated 23.12.2002, 27.12.2002 and 30.12.2002 : 6.75% NABARD Tax Free Bonds have been Specified for Sec 10(15)(iv), M/S Cancer Institutes Chennai Notified Under Section 35(1)(ii), Diocese of Aurangabad, Aurangabad Notified for Sec 10(23C)(iv), Maharashtra State Women's Council, Mumbai Notified under section 10, Maharashtra Energy Development Agency, Mumbai Notified under 10(23C), Adhiparasakthi Charitable Medical, Educational and Cultural Trust, Tamilnadu Specified for Section 35AC, Rural Area Development Trust (RUADT), Tamil Nadu, Tata Sponge Iron Limited, Orissa, Shree Bidada Sarvodaya Trust, Mumbai, National Association for the Blind, (Gujarat State Branch), Gujarat, Jankidevi Bajaj Gram Vikash Sanstha, 55/4, University Road, Aundh, Pune, Om Shree Ram Mantra Mandir Trust, Gujarat, Shree Anandabava Netra Chikitshalaya, Jamnagar and Madras Egmore Lions Blood Bank Research Foundation, Chennai have been Specified for Section 35AC.

CBEC Excise Tariff

  • Amendments to Notifications Specified

Notification No. 03/2003 Dated 06.01.2003 : 14/2002-Central Excise, dated the 01.03.2002

In the said notification, in the conditions specified below the Table, for the Condition in column (2) occurring against Condition No.3, the following Condition has been substituted,

"If no credit of the duty paid on inputs or capital goods has been taken under rule 3 or rule 11 of the CENVAT Credit Rules, 2002.";

15/2002-Central Excise, dated the 01.03.2002

In the said notification, in the conditions specified below the Table, for the Condition in column (2) occurring against Condition No.4, the following Condition has been substituted,

"If no credit of the duty paid on inputs or capital goods has been taken under rule 3 or rule 11 of the CENVAT Credit Rules, 2002."

  • Hon'ble Supreme Court's judgment in the case of CCE, Bombay vs M/s Maharashtra Fur Fabric Ltd reported in 2002(145)ELT 287(SC). 

Circular No. 4/688/2003 Dated 03.01.2003 : The Hon'ble Supreme Court has decided in the case of CCE, Bombay vs M/s Maharashtra Fur Fabric Ltd that the benefit of the Notification No.109/1986-CE, dated 27.2.86 as amended by Notification No. 3/1988-CE, dated 19.1.88 is not available to the assessee.

  • Payment of rebate amount of the duty paid from Cenvat credit account in cash

Circular No. 3/687/2003 Dated 03.01.2003 : The Board is of the view that there is no discretion with the sanctioning authority to give the refund of the duty paid on goods exported through credit accounts. It is therefore clarified that the duty paid through the actual credit or deemed credit account on the goods exported must be refunded in cash.

  • Amendment to Notification No. 6/2002 Dated 01.03.2002 

Notification No. 01/2003 Dated 02.01.2003 : In the said notification, in the Table, S.No. 142A relating to Nylon twine used within the factory of production has been inserted.

  • Provisional release of seized goods and execution of B-8 Bond

Circular No. 2/686/2003 Dated 02.01.2003 : It is seen that B-8 bond has been mentioned inadvertently in the instructions relating to provisional release of seized goods. There has been no change in the format specified under the earlier rules except that the reference to old rules may be changed to new set of rules. Accordingly, it is clarified that old B-11 Bond which was hitherto being used for provisional release of seized goods may be used under the existing instructions also. 

  • Exemption to Petrol from Excise duty under Section 5A(1) for purpose specified 

Notification No. 64/2002 Dated 31.12.2002 : The Central government has exempted Motor spirit, (commonly known as petrol) from the duty of excise leviable thereon, if sold by the manufacturer for delivery at the time of removal of such goods or at any other time nearest to the removal of such goods, where the manufacturer and the buyer are not related and the price is the sole consideration.

  • Exemption to 5% Ethanol blended petrol from additional excise duty

Notification No. 63/2002 Dated 31.12.2002 : Central Government has exempted 5% ethanol blended petrolfrom the whole of the additional duty of excise leviable thereon. 

CBEC Customs Tariff

  • Anti Dumping Duty

Notification No. 141/2002 and No. 142/2002 Dated 26.12.2002, No. 143/2002 Dated. 27.12.2002, No. 2/2003 Dated 02.01.2003 and No. 7/2003 Dated 07.01.2003 : Anti-Dumping Duty has been imposed on Vitamin AD3500/100, Sodium Hydroxide, Vitamin C, Mulberry Raw Silk and Float Glass of thickness 2mm to 12mm.

  • Amendment to Notification No.39/96 Dated 23.07.1996 

Notification No. 6/2003 Dated 06.01.2003 : In the Table annexed S.No. 23 relating to Capital equipment required for setting up of facilities for manufacture of compressor/ turbine blades for AN-32 transport aircraft, Mi-8 and Mi-17 helicopter imported by M/S Hindustan Aeronautics Limited (H.A.L.), has been inserted.

  • Amendment to Notification No.69/2000 Dated 19.05.2000

Notification No. 5/2003 Dated 03.01.2003 : In paragraph seven, after the Table, for the words beginning with “ Nothing contained in this notification” and ending with the word and figures “ Rules, 1996”, the following shall be substituted, namely:-

“ Nothing contained in this notification shall apply to imports of metcoke 

a) by a manufacturer of pig iron or steel using a blast furnace or

b) by a manufacturer of steel using COREX technology or

c) by a manufacturer of pig iron using COREX technology or

d) by a manufacturer of ferro alloys 

if he follows the procedure set out in the Customs ( Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 1996.”.

  • Duty drawback rates for Non-Alloy steel and Alloy steel forgings 

Circular No. 2/2003 Dated 03.01.2003 : Since the basic objective of stipulating the condition of 'non-availment of Cenvat facility' has been to prevent accrual of double benefits on account of Central Excise component only, no revenue loss shall entail if at least the Customs component is permitted to those exporters who avail of Cenvat facility. It is, therefore, clarified that in all those cases relating to SS No.73.29 and 73.30 of the Drawback Schedule, where the exporters avail of the Cenvat facility, the relevant Customs component of the notified drawback rate may be allowed as drawback.

  • Permision for Taking Out Plain Semi-finished Jewellery for Job Work in DTA by Gem & Jewellery Manufacturing Units in SEZ

Circular No. 1/2003 Dated 02.01.2003 : It has been decided that the gem and jewellery manufacturing units in SEZ may be allowed to take out plain semi –finished jewellery into DTA for job work subject to the condition that the goods, finished or semi-finished including studded jewellery containing quantity and purity equal to the plain semi –finished jewellery taken out for job work shall be brought back within a period of 30 days. However, no diamonds, precious or semiprecious stones and studded jewellery shall be allowed to be taken out of the Zone for sub-contracting. 

  • Amendment to Notification No. 21/2002 dated 01.03.2002

Notification No. 144/2002 Dated 31.12.2002 : S. No. 344A relating to Golf Cars has been inserted in the Table.

  • Assessment of bulk liquid cargo - ship ullage survey report Vs shore tank receipt

Notification No. 96/2002 Dated. 27.12.2002 : In light of the various decisions in this regard, the Board has decided that in case of all bulk liquid cargo imports, whether for home consumption or for warehousing, the shore tank receipt quantity should be taken as the basis for levy of customs duty and pending provisional assessments may be finalised accordingly.

CBEC Customs Non Tariff

  • Special Additional Duty of customs on Imported Goods specified 

Notification No. 2/2003 NT Dated 06.01.2003 : In exercise of the powers conferred by section 28A of the said Customs Act, the Central Government, has directed that the special additional duty of customs payable under the Customs Act, and section 3A of the Customs Tariff Act, 1975, on the goods imported by several importers as specified, but for the prevailing practice would not be required to be paid on the said goods imported during the period from 2nd June, 1998 to 31st July, 1998.

RBI

  • Foreign Exchange Management Act, 1999 –Advance Remittances for Services to be Rendered 

Circular No. A.P. (DIR Series) Circular No.65 Dated 06.01.2003 : With a view to further liberalising the procedure for import of services, it has been decided to raise the limit of USD 25,000 to USD 100,000 or its equivalent. Accordingly, authorised dealers may, henceforth, allow advance remittance for all admissible current account transactions upto USD 100,000 without prior approval of Reserve Bank.

  • Report of the Committee on Computer Audit –Standardised Checklists for Conducting Computer Audit

Notification No. DBS.FID.No.C-11/01.02.00/2002-03 Dated 31.12.2002 : The Committee has classified the possible areas of audit interest in the Information System (IS) environment into 15 broad categories and has prepared ‘standardized checklists’ under each category to facilitate the conduct of computer audit. The issues elaborated in the checklists would give a fair idea about areas that need to be controlled. These checklists would be only in the nature of guidelines and FIs would be free to develop more elaborate checklists to conduct IS Audit suitable to the IT environment in which they operate and propose to operate.

  • Risk-based internal audit

Notification No. DBS.CO.PP.BC . 10 /11.01.005/2002-03 Dated. 27.12.2002 : Banks have been directed to form a Task Force comprising senior executives and entrust them with the responsibility of chalking out an action plan for switching over to risk-based internal audit. The task force may identify and address transitional and change management issues, implement the action plan, monitor the progress in the transitional period and report periodically to the Board of Directors and Top Management. A quarterly report beginning from the quarter ending March 31, 2003 on the progress made in implementation of risk-based internal audit is required to be submitted to the RBI and also to the Regional Office of Department of Banking Supervision under whose jurisdiction the Head Office of the bank is situated.

  • Relaxation in Daily Minimum Cash Reserve Maintenance Requirement

Notification No. DBOD.No.Ret.BC.54/12.01.001/2002-03 Dated. 27.12.2002 : With a view to providing flexibility to banks in choosing an optimum strategy of holding reserves depending upon their intra-period cash flows, it has been decided to reduce the present requirement of minimum of 80 per cent of the CRR balances to be maintained to 70 per cent with effect from the fortnight beginning December 28, 2002.

  • Minimum balance in savings bank accounts

Notification No. DBOD. Dir. BC. 53/13.10.00/2002-03 Dated 26.12.2002 : Banks have been directed to inform customers regarding the requirement of minimum balance at the time of opening the account in a transparent manner. Any subsequent changes in this regard should also be intimated to the account holders. The banks may decide the manner in which the information is made available to the customers.

  • Fair Practices Code on Lenders' Liability

Notification No. DBOD.No.Leg.BC. /09.07.007 / 2002-03 Dated 19.12.2002 : RBI has prepared the broad guidelines to be adopted by banks and Financial Institutions for framing the Fair Practices Code with the approval of their Boards. Banks and Financial Institutions will have the freedom of drafting the Fair Practices Code enhancing the scope of the guidelines but in no way sacrificing the spirit underlying the above guidelines. For this purpose, the Boards of banks and Financial Institutions will also lay down clear policy as regards time frame, reasonableness of parameters indicated in the Fair Practices Code, etc. 

DGFT

 

  • Amendments/ Corrections/Additions in the Schedule of DEPB Rates 

Public Notice No. 54/2002-2007 to No.56/2002-2007 Dated 03.01.2003 : Amendments/ Corrections / Additions have been made in the Schedule of DEPB Rates and in SION

  • Default in Realization of Export proceeds against DEPB 

Trade Notice No. 17/2002 Dated 01.01.2003 : Iit has been found that a large number of exporters have not yet submitted the proof of realization. Therefore, it has been decided to give a time up-to 31.1.2003 to all concerned exporters to submit relevant proof of realization file wise, in the format given in Trade Notice No.20 dated 4.3.2002, failing which they shall be declared as defaulter without any further notice or warning. 

  • Amendment in the Handbook of Procedures 

Public Notice No. 53/2002-2007 Dated 31.12.2002 : New LCS, criteria for single year exports and certificate of exports for status holder & extension of last date for endorsement of DEPBs where date of let export is prior to 01.04.02, has been notified.

  • Amendment in the import policy

Notification No. 21/2002-2007 Dated 26.12.2002 : The Central Government has amended the Export and Import Policy, 2002-07

A sub -para is added at the end of paragraph 2.2,

“No import or export of rough diamonds shall be permitted, unless the shipment parcel is accompanied by Kimberley Process (KP) Certificate required under the procedure specified by the Gem and Jewellery Export Promotion Council (GJEPC)”

In the Import Licensing Notes at the end of Chapter -71, after Note 3, the following further note has been added,

“4. Import of rough diamonds covered under this Chapter must be accompanied by Kimberley Process (KP) Certificate.”

Department of Commerce 

  • Review of Anti-Dumping Duty

Notification No. 14/43/2002-DGAD Dated 27.12.2002 : Review of Anti-Dumping Duty concerning imports of Ethylene Propylenc Rubber (EPM) and Ethylene Propylene Diene Rubber (EPDM) from Korea has been done.

  • Anti-Dumping Investigations

Notification No. 14/44/2002-DGAD Dated 24.12.2002 : Anti-Dumping Investigations Concerning Import of Copper Clad laminates Originating in or Exported from Peoples' Republic of China, Taiwan, Hong Kong, South Korea, Singapore, Philippines & Thailand have been initiated.

  • Final Findings regarding Anti-Dumping Investigation

Notification No. 22/1/2001-DGAD, No.17/1/2001 and No. 14/35/2002-DGAD Dated 24.12.2002 and No. 14/28/2002-DGAD Dated 20.12.2002 : Final Findings regarding Anti-Dumping Investigation Concerning Imports of Certain Polyester Staple Fibres (PSF) Originating in or Exported From Korea R P, Malaysia, Taiwan and Thailand, Preliminary Findings regarding Anti-Dumping Investigations Concerning Imports of Methylene Chloride Originating in or Exported From European Union, South Africa and Singapore and regarding Import of Mulberry Raw Silk (Not Thrown)Originating in or Exported from China PR, have been published.

Department of Industrial Policy

  • Central Comprehensive Insurance Scheme, 2002

Notification No. 14(2)/2002-SPS Dated 24.12.2002 : The Government of India has made the following schemes for the state of Sikkim with a view to accelerating industrial development in the state, to be effective from the day of its publication and remain in force upto and inclusive of 22.12.2012. 

Central Comprehensive Insurance Scheme, 2002

Central Interest Subsidy Scheme, 2002

Central Capital Investment Subsidy Scheme, 2002

Ministry of Environment and Forests

  • Environment (Protection) Fourth Amendment Rules, 2002

Notification No. 849(E) Dated 30.12.2002 : In Schedule VI, in Part E relating to noise standards, for paragraph AA relating to Noise limits for vehicles with effect from 1st January, 2003", paragraph AA relating to Noise limits for vehicles at manufacturing stage, has been substituted.

Ministry of Chemicals and Fertilizers

  • Fixation of Price of Pentazocine under Drugs(Prices Control) order,1995 

Notification No. SO1348(E) Dated 23.12.2002 : The National Pharmaceutical Pricing Authority has fixed Rs. 35512 per Kg as the maximum sale price (exclusive of excise duty and local taxes) at which Pentazocine shall be sold.

Department of Health

  • Prevention of Food Adulteration (8th Amendment) Rules, 2002

Notification No. GSR853(E) Dated 30.12.2002 : The following amendments have been made in the Prevention of Food Adulteration Rules, 1955 

1. Rule 28.A relating to Use of Lake colours as colourant in foods has been inserted

2. In rule 32, in clause (i) after fourth proviso, the provisos relating to bottle containing liquid milk or liquid beverage having milk and returnable bottle which are recycled for refilling have been inserted.

3. In Rule 42 some labels have been substituted. 

  • Prevention of Food Adulteration (Amendment) Rules, 2002 

Notification No. GSR852(E) Dated 30.12.2002 : The following amendments have been made in the Prevention of Food Adulteration (Amendment) Rules, 2002

1. Rule 48-E relating to Sale of fresh fruits and vegetables has been inserted.

2. Item A.08.01containing the definitions of Coffee (green raw or unroasted), Roasted coffee and Ground coffee, has been substituted.

3. Item A.08.02 and item A.08.04 have been substituted. 

  • Drugs and Cosmetics (Draft Amendment) Rules, 2002

Notification No. GSR851(E) Dated 30.12.2002 : In Schedule K, S. No. 33 relating to Nicotine gum containing upto 2mg. of nicotine, has been inserted.

  • Drugs and Cosmetics (Draft Amendment) Rules, 2002 

Notification No. GSR850(E) Dated 30.12.2002 : In Schedule M-III. under the heading 7. Testing facilities in proviso after the words Sterility. Pyrogens. Toxicity" the words "wherever applicable" shall be inserted.

Ministry of Personnel, Public Grievances and Pensions

  •  Appointment of Shri Justice S. N. Phukan as Head of Single Member Commission of Inquiry for Tehelka Case 

Notification No. SO12(E) Dated 04.01.2003 : The Central Government has appointed Shri Justice S.N. Phukan, a retired Judge of the Supreme Court of India, to head the Single Member Commission of Inquiry.

Ministry of Petroleum

  • Permission of Sale of 5% Ethanol Blended Petrol in States Specified

Notification No. GSR843(E) Dated 26.12.2002 : The Central Government has permited sale of only 5% ethanol blended petrol in the States of Andhra Pradesh, Maharashtra, Punjab and Uttar Pradesh starting in phased manner from the first January, 2003 and covering of the entire area of the said States by the 30th June, 2003. The Central Government has further permited to cover the entire States of Tamil Nadu, Goa, Haryana, Gujarat and Karnataka and Union Territories of Chandigarh, Pondicherry, Daman Din and Dadra Nagar Haveli with sale of only 5% ethanol blended petrol by the 30th June, 2003.

Ministry of Railways

  • Indian Railways (Open Lines) General (Amendment) Rules, 2002 

Notification No. GSR842(E) Dated 26.12.2002 : (i) In rule 4.17. in sub-rule (2), in clause (b), the following has been inserted,

"Provided that where in a section, a block proving axle counter or track circuit and complete track circuiting of station yard, excluding non-running lines on either end is provided and where block section clear indication provided with such equipment shall ensure clearance of block section automatically, the withholding may not be necessary,";

(ii) in rule 14.05. Note (3) mentioning that Exchange of bell codes under reference Numbers 3 and 4 are not required in a section provided withblock proving axle counter or track circuit having complete track circuiting of station yard excluding non-running lines on either end, has been inserted.

(iii) in rule 14.10, Note (4) mentioning that in a section with block proving axle counter or track circuit and complete track circuiting of station yard, excluding non-running lines on cither end, block section clear indication provided with such equipment shall also ensure compliance of the provisions of sub-rules (1). (2) and (3) above."

Ministry of Road Transport and Highways

  • Madhya Pradesh State Road Transport Corporation Ceased to Function from 31.12.2002

Notification No. SO1365(E) Dated 26.12.2002 : The Central Government has appointed the 31st day of December, 2002 as the date on which the Madhya Pradcsh State Road Transport Corporation would cease to function and would stand dissolved.

  • Central Motor Vehicles (Sixth Amendment) Rules, 2002

Notification No. GSR845(E) Dated 24.12.2002 : 1. In rule 98 of the Central Motor Vehicles Rules, 1989,

(i) in sub-rule (3), for the words, figures and letters "On and after 1st January, 2003", the words, figures and letters "On and after 1st May, 2003" has been substituted;

(ii) Sub-rule (5), saying that On and after 1st May, 2004, the Category N3 multi-axle vehicles shall be fitted with power steering, has been inserted

2. In rule 101, in sub-rule (2), for the words, figures and letters "manufactured on and after 1st January, 2003", the words, figures and letters "manufactured on and after 1st January, 2003 in respect of Category Ml vehicles, and in respect of other vehicles, on and after 1st May, 2003" have been substituted.

5. In rule 124, in sub-rule (1A), for the words, figures and letters "On and from 1st January, 2003", the words, figures and letters "On and from 1st May, 2003" have been substituted.

6. In rule 125, in sub-rule (2), in the proviso, for the words, figures and letters "on and from 1st January, 2003", the words, figures and letters "on and from 1st May, 2003" have been substituted.

  • Manager (Technial) National Highways Authority Of India Authorized As Competent Authority Under National Highways Act, 1956

Notification No. SO1342(E) Dated 20.12.2002 : The Central Government has authorized the Manager (Technical) National Highways Authority of India, Plot No. 498, Scctor-3. Shakthi Marg, Shivabasava Nagar. Belgaum-590010. Karnataka as the competent authority to perform the functions of such authority under the said Act with effect from the date of publication of this notification in the Official Gazette in respect of the land stretch from km. 515/000 to km. 592/000 on National Highways No. 4 in the State of Karnataka as specified. 

Press Information Bureau

  • Task Force to implement JPC recommendations

Dated 08.01.2003 : The Department of Company Affairs (DCA) has set up a Task Force under the Chairmanship of Joint Secretary, Shri Rajiv Mehrishi to take action on the recommendations/observations of the Report of the Joint Parliamentary Committee on the stock market scam. The Task force will identify the actionable points in the JPC Report and take the required actions in the time frame of six months as prescribed by the JPC. 

  • Contempt of Courts

Dated 08.01.2003 : The Government is considering amendment to the Contempt of Courts Act, 1971 in the light of the recommendations of the National Commission to Review the Working of the Constitution, which was headed by Shri Justice M.N. Venkatachalaiah, a retired Chief Justice of India.

  • President's assent to Bills

Dated 03.01.2003 and 02.01.2003 : The President has given his assent to the Companies (Amendment) Bill, 2002, the Cable Television Networks (Amendment) Bill, 2002, the Transfer of Property (Amendment) Bill, 2002, the Indian Evidence (Amendment) Bill, 2002, Refugee Relief Taxes (Abolition) Repeal Bill, 2002, the Appropriation (No. 6) Bill, 2002 and the Representation of the People (Third Amendment) Bill, 2002. With this, these Bills, passed during the Winter Session of Parliament ending December 20, 2002, have been notified in the Gazette of India as Act Nos. 1,2,3 and 4 respectively of the year 2003 and Act Nos. 70, 71 and 72 respectively of the year 2002. 

  • Law Commission's recommendations on Law Relating to Arrest

Dated 31.12.2002 : The Law Commission of India, in its 177th Report on Law Relating to Arrest, has suggested far reaching changes in the criminal laws to maintain a balance between the liberty of the citizen and the societal interest in maintenance of peace, law and order. It has also suggested measures for making police accountable for their omission and commission.