In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table hereto annexed shall be amended or further amended, as the case may be, in the manner specified in the corresponding.
The Principal notification No. 27/97-Cus(N.T.) dated 7th July 1997 was published in Gazette of India Extraordinary Part II, Section 3, sub-section (i), dated 7th July 1997 under GSR No. 363 (E) and was last amended vide notification No. 21/2000-CUS (N.T.) dated 16th March 2000.
With a view to have a more realistic assessment of the institutional investments it is proposed that custodians should provide the market value of the securities held in custody with them on a monthly basis.
The SEBI (Foreign Institutional Investors) Regulations, 1995 permit FIIs to invest in unlisted securities. Currently the custodians are reporting trades for unlisted securities under ‘no ISIN’ or custodian generated codes.
With a view to have a more realistic assessment of the institutional investments it is proposed that custodians should provide the market value of the securities held in custody with them on a monthly basis.
Circular No. 575/12/2001-CX I am directed to say that the PAC (CX-7) Section of the Board receives at least 23 reports/returns (most of them monthly, some fortnightly, some quarterly, some yearly etc.) from each of the sixty one Central Excise Commissionerates spread all over India.
