Union finance minister Nirmala Sitharaman will move the Tribunals Reforms Bill, 2021 in the Lok Sabha on Monday.
The Bill seeks to abolish tribunals or authorities under various laws by amending various statutes to streamline the justice delivery system. These include the Cinematograph Act, the Copyright Act, the Customs Act, the Patents Act, the Airport Authority of India Act, the Trade Marks Act and the Geographical Indications of Goods (Registration and Protection) Act.
The government said it believes many tribunals only add to another additional layer of litigation. In 2017, seven tribunals were abolished or merged based on functional similarity.
The Bill was earlier introduced in the Budget Session by minister of state for finance Anurag Thakur. However, since the Bill was not passed in the House, an ordinance was issued.
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Sitharaman will also move the General Insurance Business (Nationalisation) Amendment Bill, 2021, which seeks to amend the General Insurance Business (Nationalisation) Act, 1972. The Bill was introduced in the Lok Sabha on Friday.
While presenting the budge earlier this year, the finance minister had said: “We propose to take up the privatisation of two public sector banks and one general insurance company in the year FY22. This would require legislative amendments, and I propose to introduce the amendments in this session (Budget Session) itself.”
HT’s sister publication Mint had reported on Friday that amendments to the parent Act, the General Insurance Business (Nationalisation) Act, 1972, were approved by the union Cabinet on Wednesday. The insurance amendment bill is part of the government’s larger divestment programme, part of which involves selling stakes in five state-run corporations and speeding up its privatisation agenda to draw in foreign investment in a Covid-hit economy.
{{/usCountry}}HT’s sister publication Mint had reported on Friday that amendments to the parent Act, the General Insurance Business (Nationalisation) Act, 1972, were approved by the union Cabinet on Wednesday. The insurance amendment bill is part of the government’s larger divestment programme, part of which involves selling stakes in five state-run corporations and speeding up its privatisation agenda to draw in foreign investment in a Covid-hit economy.
{{/usCountry}}In the Upper House, union minister of tribal affairs Arjun Munda will introduce the Constitution (Scheduled Tribes) Order (Amendment) Bill, 2021, which will amend the Constitution (Scheduled Tribes) Order 1950 to modify the list of Scheduled Tribes in Arunachal Pradesh.
After being passed in the Lok Sabha, the Inland Vessels Bill 2021 will be introduced by union minister Sarbananda Sonowal in the Rajya Sabha on Monday. The proposed legislation seeks to replace the Inland Vessels Act, 1917, for the regulation of the safety, security and registration of inland vessels. The union Cabinet approved the Bill on June 16.