Schedule I of the Information Technology Act stands amended: property transaction documents, power-of-attorney, cheques in favour of or endorsed by Regulated entities (RBI, SEBI, IRDAI, PFRDA) included under the ambit of Information Technology Act, 2000

The Ministry of Electronics and Information Technology (“MEITY”) has amended the First Schedule of the Information Technology Act, 2000 (“Act”) which specifies documents or transactions to which the Act does not apply.

The following documents are included under the ambit of the Act :

1. Cheques, Demand Promissory Notes or Bills of Exchange issued in favour 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.
2. A power-of attorney (“POA”) 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.
3. Contract for the sale or conveyance of immovable property or any interest in such property.

Source: Ministry of Electronics and Information Technology