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Two bills to be introduced in LS today; RS to discuss Marine aids bill
The government plans to introduce the Factoring Regulation (Amendment) Bill, 2020 and the National Institutes of Food Technology, Entrepreneurship and Management Bill, 2021 in the Lok Sabha
Three bills are slotted for day 1 of monsoon session of Parliament today, according to the agenda of the House.
The government plans to introduce the Factoring Regulation (Amendment) Bill, 2020 and the National Institutes of Food Technology, Entrepreneurship and Management Bill, 2021 in the Lok Sabha. The Rajya Sabha is expected to discuss the Marine Aids to Navigation Bill, 2021 today.
The Factoring Regulation (Amend) Bill, 2020 was introduced in Lok Sabha on September 24, 2020. It seeks to liberalise the Factor Regulation Act of 2011 by widening the scope of entities that can engage in factoring business. Key changes include modifying the definitions of receivables, assignment, and factoring business.
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The National Institutes of Food Technology, Entrepreneurship & Management Bill, 2019, was introduced by Harsimrat Kaur Badal, then minister of food processing industries. It seeks to declare two institutes, National Institute of Food Technology Entrepreneurship and Management at Kundli, and the Indian Institute of Food Processing Technology at Thanjavur as institutions of national importance.
The Marine Aids to Navigation Bill, 2021 revokes the Lighthouse Act, 1927, which provides maintenance and control of lighthouses. Introduced on March 15, 2020 in Lok Sabha, it sets the framework for the development, maintenance, and management of aids to navigation in India. The bill qualifies the Centre to appoint a Central Advisory Committee (CAC) which constitutes persons representing the interests affected by the bill, as well as members with special knowledge of the sector.The bill also authorises the Government to designate any aid under its control as a Heritage Lighthouse.
According to the ministry of parliamentary affairs, during the 19 sittings of the session, 31 government business items, including 29 Bills, and two financial items will be taken up. Six bills will be brought to replace the ordinances.
