Norms For Independent Directors Amended; Rules For FDI In Insurance Notified: ELP

The Legal Library section collates quality and in-depth reports on regulatory developments, court rulings and policy changes authored by India’s top law firms and consultants. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of law and policy. .ELP Update.Key changes have been introduced by the Ministry of Finance, MCA and SEBI:With the view to boost foreign investments in the insurance sector, MoF has-Notified changes to the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 (NDI Rules), thereby increasing the sectoral cap of foreign investment in the insurance company to 74% under the automatic route.In relation to independent directors, Ministry of Corporate Affairs has introduced the following amendments-Requirement of an annual report on persons included as ID under the companies (creation and maintenance of databank of independent directors) Rules, 2019.Relaxation in the requirement for IDs to pass the online proficiency self-assessment test under the Companies (Appointment and Qualification of Directors) Rules, 2014 - Advocates/CA/CS/Cost Accountant with 10 years’ experience exempted. With a view to further streamline the regulatory framework and ease certain norms, Securities and Exchange Board of India has introduced number of changes including the following-Notified new SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021Lock-in period relaxed in case of public offers, boost to alternative investment funds/venture capital funds/foreign venture capital investments, change in definition of promoter group where promoter is a body corporate. .Click on the attachment to read the full report:.DISCLAIMERThis alert does not constitute legal advice and is for information purpose only. This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Norms For Independent Directors Amended; Rules For FDI In Insurance Notified: ELP

Detailed Analysis Of Key Changes By Ministry Of Finance, Ministry Of Corporate Affairs, SEBI: ELP

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