MINISTRY OF PETROLEUM AND NATURAL GAS
NOTIFICATION
New Delhi, the 22nd September, 2020
G.S.R. 575(E).—In exercise of the powers conferred by section 31 of the Oil Industry (Development) Act, 1974 (47 of 1974), the Central Government hereby makes the following rules further to amend the Oil Industry (Development) Rules, 1975, namely:-
1. (1) These rules may be called the Oil Industry (Development) Amendment Rules, 2020.
(2) They shall come into force from the date of their publication in the Official Gazette.
2. In the Oil Industry (Development) Rules, 1975, the following rules shall be substituted:-
In rule, 24, in sub-rule (1), in clause (ii) for the words, letters and figures “the Board makes a grant of more than Rs.25 lakh in a single case” the words, letters and figures “the Board makes a grant of more than Rs. 2 crore in a single case” shall be substituted.
[F. No. G-38011/17/2020-Fin.-I]
RAJESH AGGARWAL, Addl. Secy. and Financial Advisor
Note: The Oil Industry (Development) Rules, 1975 were published in the Gazette of India, Part II, section 3, sub-section (i) vide notification number G.S.R. 160 (E), dated the 22nd March, 1975 and lastly amended vide notification number G.S.R.489 (E), dated 28th July, 2004.
