The Ministry of Mines on February 22, 2024, issued the Draft Offshore Areas Mineral (Development and Regulation) Rules, 2024
The following has been stated namely: -
• It states that the Governing Body shall lay down the broad policy framework for the functioning of the Trust and review its working.
• The Governing Body shall approve the annual plan and annual budget of the Trust upon the recommendations of the Executive Committee and it shall meet at least once in a year.
• It states that the Executive Committee shall while discharging its functions, follow the policy framework and the directions of the Governing Body from time to time.
• It states that the Fund shall be opened under the Public Account of India which shall be a non-lapsable and non-interest-bearing account and shall be administered by the Central Government.
Comments or Suggestions, if any are invited from the Public, the Government of States, and Union Territories, mining industry Stakeholders and entities concerned, before March 23, 2024.
Comments shall be mailed to [email protected] In Ms Office Word File only.
[Notice No. MVI-1/2/2024-Mines VI]
