directed to forward herewith a copy of the Notification published in the Gazette of India for your information and necessary action.
Attention is invited to Policy Circular No. 33 dated 15th November, 2000 specifying the 100 % Bank Guarantee conditions for importability of cars, microbuses etc. by travel agents, tour operators, tourist transport operators under 5 % EPCG Scheme. Since Public Notice 53 dated 27-2-2004 has been notified allowing Bank Guarantee/LUT facility as per the conditions stipulated in the said public notice, the aforesaid policy circular stands withdrawn from immediate effect.
SEBI (Foreign Institutional Investors) Regulations, 1995 permits FII investment in debt securities, including Government securities, treasury bills and corporate debt securities, through 100% debt route as well as through the equity route where upto 30 % investments can be made in debt securities.
SEBI had come across reports in a section of media about ‘late trading’ in Mutual Funds, in some countries where undue advantage was taken by a few investors due to different cut-off timings for applying NAVs both for subscriptions and redemptions, to the disadvantage of other investors.
This circular is being issued in exercise of powers conferred by section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interest of investors in securities and to promote the development of, and to regulate the securities market.
It has now been decided to permit each mutual fund to invest in foreign securities up to 10% of their net assets as on January 31 of each relevant year ( instead of the present reference date of January 31, 2003). e.g. the reference date upto January 30, 2005 shall be January 31, 2004.
In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with 1.1 , 2.1 and 2.4 of the Export and Import Policy, 2002-2007 as amended from time to time , the Central Government hereby makes the following amendments in the ITC(HS) Classification of Export and Import items, 2002-2007 and as amended from time to time.
whereas, the National Committee for the Promotion of Social and Economic Welfare, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules
whereas the National Committee for Promotion of Social and Economic Welfare, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules. 1962 for specifying the said project or scheme for a further period of three years
whereas the National Committee for Promotion of Social and Economic Welfare, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years
