Exact modalities for submitting applications for grant of export licence would be notified once the quantity of exports already made has been ascertained and the extent of exportable surplus has been reassessed.
A.P. (DIR Series) Circular No. 28 Authorised Persons (Indian Agents) were advised to take into account risks arising from the deficiencies in AML/CFT regime of certain jurisdictions, as identified in FATF Statement (www.fatf-gafi.org) issued from time to time, while dealing with individuals from these jurisdictions.
Know Your Customer (KYC) norms/ Anti-Money Laundering (AML) standards/ Combating the Financing of Terrorism (CFT)/ Obligation of Authorised Persons under Prevention of Money Laundering Act, (PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009- Money changing activities.
All Authorised Persons (Indian Agents) are accordingly advised to take into account risks arising from the deficiencies in AML/CFT regime of these countries, while entering into business relationships and transactions with persons (including legal persons and other financial institutions) from or in these countries/ jurisdictions.
Jurisdictions with strategic AML/CFT deficiencies that have not committed to an action plan developed with the FATF to address key deficiencies as of June 2010. The FATF calls on its members to consider the risks arising from the deficiencies associated with each jurisdiction: Democratic People’s Republic of Korea (DPRK), Sao Tome and Principe.
It has been decided to discontinue the submission of the statement mentioned above to the Reserve Bank. Accordingly, all the banks authorised to deal in foreign exchange are advised to discontinue the submission of the afore-mentioned statement from the calendar year 2010 onwards.
Please refer to our circular Ref no. 1102/02.14.08/2009-10 dated November 24, 2009 on the captioned subject. In this regard you are advised to forward us a complete list of intermediaries accounts maintained with your bank by 5th January 2011.
It was the decision of meeting of Group of Ministers that 55 lakh bales of cotton should be allowed for export during the cotton season 2010-11. Actual exports commenced from 1st Nov.2010 under the EARCs granted by Office of Textile Commissioner, Mumbai, giving a time of 45 days to make such exports. It has been brought to the notice of Govt. that actual exports under such registered contracts are much less than the quantity approved by GoM.
While the existing clause 5A in the equity listing agreement addresses and resolves the practical difficulties of companies which have issued shares in electronic mode; it does not address the difficulties faced by companies which had in the past issued shares in physical mode.
The depository participant should further ensure that the statement of transactions and holding are sent to the BO’s permanent address at least once in a year.
