Centre constitutes law panel
The Centre has constituted the 16th Law Commission for a period of three years. Justice BP Jeevan Reddy, the outgoing chairman of the 15th Law Commission has been retained as the chairman. The commission, effective from Friday, will have comprehensive terms of reference including review an repeal of obsolete laws and taking measures to harness laws and legal process of poverty alleviation. Other functions of the commission will cover review of the judicial administration in order to ensure that it responds to the reasonable demands of time. Other members of the commission will include Dr NM Ghatate and TK Vishwanathan.

CLSS to continue till Sept 30
The department of company affairs has extended the Company Law Settlement Scheme-2000, by a month. The three-month scheme, which came into operation from June 1, 2000, will continue till September 30. This follows demands from chambers of commerce, accountancy professionals and others in the corporate sector, says an official press release.

Panel submits supplementary report
The 11th Finance Commission has submitted its supplementary report to President KR Narayanan suggesting methods for monitoring fiscal performance of state governments. The report has also advocated a weightage formula for fiscal discipline in the devolution package for states from the central pool of taxes. Chairman of the commission AM Khusro, who declined to give details of the recommendations, told newsmen that, "the supplementary report dealing with the additional terms of reference was sent to the president in time."

Gary Cofer appointed P&G's MD
Procter & Gamble country manager Gary Cofer has been appointed managing director of Procter & Gamble Hygiene and Health Care Ltd, the 65-per cent subsidiary of US-based Procter & Gamble Co. Mr Cofer takes charge as managing director with effect from September 1, 2000.

Sebi outlines code of conduct for staff
Even before insider trading regulations take final shape the Securities and Exchange Board of India has sent out a strong signal to markets by establishing a code of conduct for all its employees, which includes its chairman, barring them from making any direct or indirect investment in equity or equity-related instruments.