Need for a new legal framework governing Telecommunication in India

Jul 28, 2022 | Business


Telecommunication has the potential to unleash the true power of India’s economy, accelerate socio-economic transformation and enable achievement of the vision of an “Aatma Nirbhar Bharat”. Telecommunication is an enabler of digital governance that emphasizes data driven and people-centric delivery of goods and services to citizens and enterprises.


Legal framework for telecommunication in India is governed by Laws which were enacted long before India’s independence. Technology has evolved significantly in the recent decades. To keep pace with emerging technologies, telecommunication legislation has evolved with time in most jurisdictions. These include United States (1996), Australia (1979), United Kingdom (2003), Singapore (1999), South Africa (2000) and Brazil (1997).


Stakeholders have been demanding evolution of legal framework to keep it in tune with changing technology.


            In view of above, Government of India, Ministry of Communications, Department of Telecommunications have prepared a consultation paper on need for a new legal framework in telecom sector. The consultation paper may be accessed at https://dot.gov.in/whatsnew/consultation-paper-need-new-legal-framework-governing-telecommunication-india. On the Consultation Paper, comments of the stake-holders have been invited by the last date 25th August, 2022.




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Regulatory framework for Angel Funds to facilitate investments in start-ups

Jul 2, 2022 | Business


The International Financial Services Centres Authority (IFSCA), in furtherance of its mandate to develop and regulate financial products, financial services and financial institutions in the International Financial Services Centres (IFSC), had notified the IFSCA (Fund Management) Regulations, 2022 in April 2022 enabling the regulatory framework for various activities related to fund management including schemes for investing in early-stage venture capital undertaking (start-ups).


Angel Funds bridge the gap between start-ups and angel investors, who are instrumental in providing mentoring, and resources to the start-ups. In recognition of the same, IFSCA has now issued a framework for Angel funds under the IFSCA (Fund Management) Regulations, 2022. The salient features of the said framework are as under:


  1. A Fund Management Entity (FME) in IFSC will be able to launch Angel Fund by filing a placement memorandum with the Authority under a Green Channel, i.e. the schemes can open for subscription by investors immediately upon filing the placement memorandum with the Authority.

  2. Angel Funds shall accept investments from accredited investors or investors who are willing to commit at least USD 40,000 over 5 years.

  3. Angel Funds are permitted to invest in start-ups as well as other regulated angel schemes in IFSC, India, foreign jurisdictions upon receiving consent from the desirous investors.

  4. While investment(s) by an Angel Fund in a start-up is capped at USD 1,500,000, the Angel fund is permitted to invest in subsequent rounds of fund raising by the start-up in order to protect its shareholding from dilution, subject to certain conditions.


The detailed framework for Angel Funds may be accessed at https://ifsca.gov.in/Circular




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Hong Kong – Regulatory framework for Advanced Therapy Products to commence on August 1

Jun 25, 2021 | International

Regulatory framework for Advanced Therapy Products to commence on August 1

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     The Department of Health (DH) today (June 25) said that all provisions of the Pharmacy and Poisons (Amendment) Ordinance 2020 (the Amendment Ordinance) to introduce a regulatory framework for Advanced Therapy Products (ATPs) will come into operation on August 1 this year.

     The Amendment Ordinance introduces a clear regulatory framework for ATPs, which cover gene therapy products, somatic cell therapy products and tissue engineered products, in order to safeguard public health and facilitate the development of ATPs. After the Amendment Ordinance comes into operation, ATPs will form a specific subset of pharmaceutical products under the Pharmacy and Poisons Ordinance (Cap. 138). As such, requirements governing pharmaceutical products under Cap. 138 and other relevant ordinances will apply to ATPs. These include registration prior to marketing, obtaining prior approval for conducting clinical trials, licensing of manufacturers and distributors, and import/export control. Furthermore, there will be additional requirements on labelling and record keeping specific to ATPs to enhance traceability of the products.

     To enable stakeholders to have a better understanding of the enhanced regulatory framework for ATPs, the Pharmacy and Poisons Board of Hong Kong has prepared guidance documents relevant to ATPs. In addition, the Board published in the Gazette today the following new editions of Codes of Practice (COPs), which will take effect on August 1 this year:

* Code of Practice for Holder of Wholesale Dealer Licence (2021);
* Code of Practice for Licensed Manufacturers and Registered Authorized Persons 2021;
* Code of Practice for Listed Seller of Poisons (2021); and
* Code of Practice for Authorized Seller of Poisons (2021).

     The Amendment Ordinance, regulatory information and guidance documents relating to ATPs, and the new editions of COPs are available on the dedicated website of the Drug Office of the DH (www.drugoffice.gov.hk/eps/do/en/pharmaceutical_trade/atp_regulation.html) and the website of the Board (www.ppbhk.org.hk/eng/regulation_of_atp.html).