Presdent Pranab Mukherjee has given assent to five key bills as per the provisions of Article 111 of the Constitution of India.
These key five legislations were passed by both the houses of Parliament, Lok Sabha and Rajya Sabha in the recently concluded winter session of Parliament. These five bills are
Arbitration and Conciliation (Amendment) Act, 2015: Facilitates an arbitrator will have to settle a case within 18 months. After the completion of 1 year, certain restrictions will be put in place to ensure that the arbitration case does not linger on.
Scheduled Castes and the Scheduled Tribes (Prevention of Atrocities) Amendment Act, 2015: It aims to prohibit the commission of offences against members of the SCs and STs and adds provisions for establishing special courts for the trial cases of such offences and the rehabilitation of victims.
The Atomic Energy (Amendment) Act, 2015: It will allow state-run Nuclear Power Corporation of India Ltd (NPCIL) to have joint venture (JV) collaboration with other public sector undertakings in the nuclear field.
The Payment of Bonus (Amendment) Act, 2015: Enhances monthly bonus calculation ceiling to Rs. 7,000 per month from the existing Rs. 3,500. It also enhances the eligibility limit for payment of bonus from existing Rs. 10,000 per month to Rs. 21,000 per month.
Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015: This law enables setting up commercial benches in select high courts.
Current Affairs: 3rd January, 2016 Current Affairs Round up December, 2015.
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