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Industry Specific - Food Laws Central Ministry of Agriculture and Farmer's Welfare Agricultural and Processed Food Products Export Development Authority Act, 1985

Amendment in Coconut Development Board Rules, 1981

30-May-2023 | S.O. 2354(E)

Ministry of Agriculture and Farmers Welfare has issued Coconut Development Board (Amendment) Rules, 2023, amending provision under Coconut Development Board Act, 1979, effective from 30th May 2023. Highlight of the amendments are: a. Under sub-rule(1) of rule 34 the expression, interest bearing Saving Bank Account in any nationalized banks or scheduled banks of Government of India shall be used in place of the word, current account in the State Bank of India or any of the nationalized banks. b. Under sub-rule (2) of rule 34 the expression, with any of the nationalized banks or scheduled banks shall be used in place of, with the State Bank of India or any of its subsidiaries or, if approved by the Central Government, with any other scheduled bank. c. Under sub-rule(3) of rule 34 the expression, against the account maintained by the Board shall be used in place of, against the current account of the Board. d. The explanation shall be added in this rule which talks about the terms "nationalized bank" and "scheduled bank" must have the respective meanings given to them in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, and the Reserve Bank of India Act, 1934. Please refer to the attached document for more details.

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