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Core Purpose

Notification introducing the Offshore Areas Mineral (Auction) Amendment Rules, 2025, to amend the Offshore Areas Mineral (Auction) Rules, 2024.

Detailed Summary

The Ministry of Mines, through notification G.S.R. 311(E) dated 14th May, 2025, has published the Offshore Areas Mineral (Auction) Amendment Rules, 2025. These rules are made by the Central Government in exercise of the powers conferred by section 35 of the Offshore Areas Mineral (Development and Regulation) Act, 2002 (17 of 2003). The rules amend the Offshore Areas Mineral (Auction) Rules, 2024, specifically in Schedule I, Explanation, clause (1). The amendment substitutes the existing text regarding the consideration of net worth for a subsidiary applicant. The new text specifies that when an applicant is a subsidiary company, the net worth of its holding company may also be considered, and this holding company may be incorporated in India or outside India. These amendment rules shall come into force on the date of their publication in the Official Gazette. The principal rules being amended were published in the Gazette of India, Extraordinary, vide number G.S.R. 502 (E), dated the 14th August, 2024.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-15052025-263103 EXTRAORDINARY PART II-Section 3-Sub-section (i) PUBLISHED BY AUTHORITY No. 268] NEW DELHI, WEDNESDAY, MAY 14, 2025/VAISAKHA 24, 1947 MINISTRY OF MINES NOTIFICATION New Delhi, the 14th May, 2025 G.S.R. 311(E). — In exercise of the powers conferred by section 35 of the Offshore Areas Mineral (Development and Regulation) Act, 2002 (17 of 2003), the Central Government hereby makes the following rules to amend the Offshore Areas Mineral (Auction) Rules, 2024, namely:- 1. (1) These rules may be called the Offshore Areas Mineral (Auction) Amendment Rules, 2025. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Offshore Areas Mineral (Auction) Rules, 2024, in Schedule I, in the Explanation, in clause (1), for the portion beginning with the words "an applicant is a subsidiary” and ending with the words "company may also be considered”, the words "an applicant is a subsidiary company, the net worth of the holding company of such subsidiary company may also be considered and the holding company may be incorporated in India or outside India" shall be substituted. [F. No. M.VI-1/7/2023-Mines VI] DINESH MAHUR, Jt. Secy. Note. — The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 502 (E), dated the 14th August, 2024.

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