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1. INTRODUCTION
The Reserve Bank of India (the RBI ) has introduced
the Foreign Exchange Management (Export of Goods and Services)
(Amendment) Regulations, 2021 (the Amendment
Regulations ) through a notification1 dated January 08, 2021,
and amended the Foreign Exchange Management (Export of Goods and
Services) Regulations, 2015 (the Principal
Regulations ). The RBI aims to introduce certain exemptions
related to the aviation sector through the Amendment Regulations by
substituting the erstwhile Regulation 4(ea) of the Principal
Regulations.
2. KEY CHANGE
The Amendment Regulations have substituted the erstwhile
Regulation 4(ea) of the Principal Regulations by including the
newly inserted Regulation 4(ea) which is as follows: (ea) re-export of leased aircraft/ helicopter and/or
MoP notifies the Electricity (Rights of Consumers) Rules,
2020
Ministry of Power (
ROC
Rules) on December 31, 2020.
The ROC Rules introduce the concept of a Prosumer, which is
defined as a person who consumes electricity from the grid and can
also inject electricity into the grid for distribution licensee,
using the same point of supply.
Some noteworthy aspects of the ROC Rules are as under:
Rights and Obligations
It is the duty of every distribution licensee to supply
electricity on request made by an owner or occupier of any premises
in line with the provisions of Electricity Act.
It is the right of consumer to have minimum standards of
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Regulatory markets evolve at various speeds and the data
protection regime is one example of a market developing at an
exponential pace. From BA, to Experian and now Grindr, the path to
compliance has been littered with good and bad practices,
eye-watering fines and examples of real-world harms being exposed.
World Data Protection Day (28th January for the un-initiated) is a
good opportunity to reflect on that progress.
Guernsey s regime has also been moving at pace, with
significant engagement programmes from the regulator
(ODPA), regulatory sanctions and the establishment
The
Labuan Business Activity Tax (Requirements for Labuan Business
Activity) Regulations 2018 ( the
Principal Regulations ) set out the requirements relating to
the minimum amount of annual operating expenditure in Labuan and
the minimum number of full time employees in Labuan that have to be
fulfilled by a Labuan entity in order to be subject to a tax rate
of 3% for a Labuan trading activity
1 or 0% for a
Labuan non-trading activity
2 under the Labuan
Business Activity Tax Act 1990 ( the Act ).
If a Labuan entity does not fulfil the minimum operating
expenditure or employment requirements specified in the Principal
Regulations for a basis period for a year of assessment, it will be