The Ministry of Electronics and Information Technology (MeitY) on October 06, 2022, hereby makes the amendments to the First Schedule of the Information Technology Act, 2000, which specifies Documents or transactions to which the act shall not apply.
The following amendments have been made-
•For serial number 1 and the entries relating thereto, the “1. A negotiable instrument (other than a cheque, a Demand Promissory Note, or a Bill of Exchange issued in favor of or endorsed by an entity regulated by the Reserve Bank of India, National Housing Bank, Securities, and Exchange Board of India, Insurance Regulatory and Development Authority of India and Pension Fund Regulatory and Development Authority) as defined in section 13 of the Negotiable Instrument Act, 1881 (26 of 1881).” serial number and entries shall be substituted.
•In the entries relating to serial number 2, after the words, figures, and brackets “the Powers-of-Attorney Act, 1882 (7 of 1882)”, the words “but excluding that power-of attorney that empowers an entity regulated by the Reserve Bank of India, National Housing Bank, Securities, and Exchange Board of India, Insurance Regulatory and Development Authority of India and Pension Fund Regulatory and Development Authority to act for, on behalf of, and in the name of the person executing them.” shall be inserted.
•Serial number 5 and the entries relating thereto shall be omitted.
[Notification No. S.O. 4720(E)]
