From: Press Information Bureau Ministry of I&B <pib.kolkata@gmail.com>
Date: Thu, Sep 16, 2010 at 5:30 PM
Subject: Releases.........pt3
Press Information Bureau
Government of India
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Ministry of Labour & Employment
Amendment in the Labour Laws Act, 1988 - withdrawal of the Labour Laws Amendment and Miscellaneous Provisions Bill, 2005, and introduction of the new Bill approved
New Delhi: September 16, 2010.
The Union Cabinet today approved withdrawal of Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Amednment and Miscellaneous Provisions Bill, 2005 from Rajya Sabha, and introduction a new Bill, namely, Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Amendment Bill, 2010 (Appendix-III) in the Rajya Sabha in the ensuing Session of Parliament aftermaking of changes of dafting as consequential nature, if any, in consultation with the Legislative Department.
The Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Act, 1988 presently provides for exemption by way of allowing 'very small' establishment (employing up to 9 workers) to maintain only one register and submit one return and 'small establishments' (employing 10 to 19 workers) to maintain three registers and submit one return.
The passage of the Amendment Bill will benefit establishments employing up to 40 workers in maintaining registers and submitting returns electronically under 16 Labour Laws.
The main features of the amendments are:
„X The coverage in terms of number of Acts will be increased from 9 in the Principal Act to 16.
„X The existing method of defining establishments as 'very small' and 'small' in the Principal Act would continue. The dispensation enjoyed by the 'very small' establishments by way of maintaining only one register and submitting one return will also continue. However, the 'small' establishments would cover those establishments employing between I0 to 40 workers as against 19 in the Principal Act. They would be required to maintain only two registers as against three at present and submit one return.
„X Registers/records can be maintained in computer, floppy, diskette or on other electronic media and return submitted through e-mail.
The Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Amendment and Miscellaneous Provisions Bill, 2005 was introduced in the Rajya Sabha to expand the coverage of the Act. The Parliamentary Standing Committee on Labour advised that the provisions of the bill be discussed with the employers' and employees' organizations and amendments redrafted on the basis of consensus reached.
As the amendments proposed in the Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Amendment and Miscellaneous Provisions Bill, 2005 have the effect to substantially delete a number of clauses and would require negative voting as per laid down procedure , it is now proposed to withdraw this Bill and introduce a new simple Bill relating only to changes which are required.
ad/hs/vk/dk/kol/17:21 hrs.
Press Information Bureau
Government of India
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Ministry of Information & Broadcasting
Revival plan of National Film Development Corporation Ltd. (NFDC)
New Delhi: September 16, 2010.
The Union Cabinet today accorded approval to the revival plan of the National Film Development Corporation Ltd. (NFDC). Under this, an additional equity of Rs. 3.00 crore will be infused and the outstanding Government loan of Rs. 19.77 crore along with accumulated interest of Rs. 8.63 crore on it will be converted into equity.
The fresh infusion of equity of Rs. 3.00 crore along with internal accruals/recovery of outstanding dues of Rs. 2.95 crore will be used by the Corporation to finance its computer hardware and software, establish an Art House Digital Exhibition Network and renovate/upgrade their properties.
The conversion of loans into equity and interest outstanding thereon will rid the Corporation of the heavy interest burden and liability to repay the loan. It will further help them in cleaning up their balance sheet and start afresh.
The net worth of the Corporation shall turn positive and the paid up and authorized capital of NFDC will increase to Rs. 45.40 crore and Rs. 45.39 crore respectively. The NFDC expects to commence making profits from 2010-11 onwards. A higher level of equity in the Corporation will enable it to fulfil its mandate of promoting the growth of Indian Cinema.
Background :
The National Film Development Corporation Ltd. (NFDC) was incorporated as a public sector undertaking in 1975 with the objective to plan, promote and organize an integrated and efficient development of the film industry of the country in accordance with the economic policy and objectives laid down by the Central Government from time to time. Accordingly NFDC has funded/ produced more than 300 films in eighteen Indian languages. The role played by NFDC in promoting new talent within the film industry has been significant in the growth of the Indian cinema since inception.
NFDC, once a profit making PSU started incurring losses after 2002-03 with the entry of private channels that led to splitting of advertisement revenue from Doordarshan, which was a major source of its income. Also a substantial part of its advertisement revenue was litigated and remained un-recovered. As a result, the paid up capital of the Corporation got eroded and it landed into financial crisis with its net worth dipping to negative. The Corporation had lo keep its operations afloat with a working capital loan of Rs.19.77 crore provided by the Government. However, since the performance of the Corporation did not improve, a revival plan was prepared with the assistance of the SBI CAPS, which contemplates redefining of the business profile of NFDC, infusion of fresh equity and conversion of the Government loan into equity. The revival plan was examined by the Board for Reconstruction of Public Sector Enterprises (BRPSE) and it made various recommendations for revival of NFDC.
ad/hs/vk/dk/kol/17:22 hrs.
Press Information Bureau
Government of India
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Ministry of Home Affairs
NIA Files Charge Sheet against 7 KYKL Activists under UAPA
New Delhi: September 16, 2010.
National Investigation Agency (NIA) has filed charge sheet before the Court in District Darjeeling, West Bengal under relevant provisions of Indian Penal Code and Unlawful activities (Prevention) Act, against the seven accused persons including Ningthoujam Tomba, the Army Commander-in-chief of the unlawful terrorist organization Kanglei Yaol Kanba Lup(KYKL), Miss Saraswati Rai, Miss Sorokhaibam Memcha Devi, Miss Rama Chanu Sorokhybam Menjor Singh, Mrs. Neera Tamang and Kangujam Rabi Singh (absconder), on September 8, 2010
National Investigation Agency had on 24/4/2010 registered Crime No. 06/2010 pertaining to the arrest of Ningthoujam Tomba@Koineng@Rajen along with his three lady associates namely, Miss Saraswati Rai, Miss Sorokhaibam Memcha Devi and Miss Roma Chanu on 14.3.2010 in Darjeeling District. Investigation of the case was entrusted to a special team headed by a Supdt. of Police.
The NIA team conducted investigation at various places in West Bengal, Assam, Manipur, Sikkim, Delhi and Karnataka, examined large number of witnesses, got forensic analysis of several seized electronic gadgets and documents done and interrogated the arrested accused persons. Investigation brought out that Ningthoujam Tomba, the KYKL Commander-in-chief had established a safe house and base camp for his terrorist activities in North Bengal with the help of other co-accused persons S. Menjor, Neera Tamang and K. Rabi Kumar. Tomba, was also found to be involved in harbouring him and helping him establish his base camp in Kurseong, Darjeeling.
rs/kka/dk/kol/17:23 hrs.
Press Information Bureau
Government of India
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Ministry of Consumer Affairs, Food & Public Distribution
Amendments to the Forward Contracts (Regulation) Act 1952
New Delhi: September 16, 2010.
The Union Cabinet today approved amendments to the Forward Contracts (Regulation) Act 1952 by introducing the Forward Contracts (Regulation) Amendment Bill, 2010 in the Parliament.
After the Bill is passed and enacted by the Parliament, Forward Markets Commission (FMC) as a regulator will get autonomy and power to regulate the market effectively. New Products like 'options' will be allowed in the commodity market. This will benefit various stakeholders including the farmers to take benefit of 'price discovery' and 'price risk management'.
The amendments proposed in the Forward Contract (Regulation) Act 1952 (FC(R) Act} are: (a) up-dation of existing definitions and insertion of some new definitions; (b) changes in provisions relating to composition and functioning of FMC; (c) enhancement of the powers of FMC; (d) corporatisation and demutualisation of the existing Commodities Exchanges and setting up of a separate Clearing Corporation; (e) registration of Intermediaries; (f) enhancement of penal provisions in the FC(R) Act; (g) permitting trading in options in goods or options in commodity derivatives; and (h) making provision for designating the Securities Appellate Tribunal (SAT) as the Appellate Tribunal for purposes of FC(R ) Act also including that of levying fee. The Bill also provides for some other provisions such as exempting FMC form payment of tax on wealth; income and profits or gains; conferring powers upon the Central Government; issue of directions to FMC on matters of policy and power to supersede FMC.
Background
The FC(R) Act provides for the regulation of commodity futures markets in India and the establishment of the Forward Markets Commission (FMC). While the markets have been liberalized with effect from April, 2003 and modern institutional structures are in the process of being evolved, yet the market regulator, FMC is largely functioning in its traditional format. Many of the existing provisions of the FC(R) Act need changes to strengthen and reinforce legal provisions to meet the requirements of changing environment. In order to amend further the FC(R) Act, the Forward Contracts (Regulation) Amendment Bill, 2006 (the Bill) was introduced in the Lok Sabha on 21.32006. The Bill went through the process of consultation and examination including that by the Parliamentary Standing Committee of the Ministry. After the extensive consultations and taking benefit of these inputs the proposal of the Ministry of Consumer Affairs, Food & Public distribution to introduce Forward Contract (Regulation) Amendment Bill 2010 has been approved.
ad/hs/vk/dk/kol/17:23 hrs.
Press Information Bureau
Government of India
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Ministry of Agriculture
Amendment of the Multi-state Co-operative Societies Act, 2002
New Delhi: September 16, 2010.
The Union Cabinet today approved the introduction of the Multi-State Co¬operative Societies (Amendment) Bill, 2010 in the Parliament. These amendments are intended to enhance the public faith in the cooperatives and to ensure better accountability of the management towards its members and the law of the land.
It is proposed to define active member to ensure the member's active participation in the affairs of the society. Time bound decision by the society for admitting members is proposed to prevent inordinate delay by the society in admitting members. A clause is proposed to be inserted for ensuring that the members make their payment due to the society to be eligible for exercising their rights as a member. It is proposed to allow the MSCS to refund full or part of the share capital subscribed by the Government to reduce/eliminate Government control of these cooperatives.
To ensure presence of experts on the board, it is proposed to provide that the co-opted directors should have experience in the field of banking, management, finance or specialization in any field relating to the objects and activities undertaken by the MSCS. The Directors will also be required to disclose the interest of their relatives in the affairs of the society.
It is proposed to give freedom to the Board to constitute an Executive Committee and other committees or sub-committees as specified in the bye -laws. However, it is proposed that every society shall be required to constitute an Audit and Ethics Committee of the Board. The existing restriction on borrowings by the society is proposed to be relaxed.
The proposed amendments also include provisions for filing of applications, documents, inspections, payment of fees, charges and issuance of certificates of registration and maintenance of documents by Central Registrar in electronic forms. It also provides for cancellation of registration if obtained by mis-representations of facts, submission of false or misleading information, suppression of material facts or fraud etc. Reservation of seat for the SC/ST and women on the board, constitution of interim board of experts for rehabilitation of a sick society, election authority for conduct of election and Cooperative Rehabilitation and Reconstruction Fund for rehabilitation and development of cooperative societies have also been proposed.
The proposed amendments also include provision for Cooperative Information Officer and Appellate Authority to provide information to the members about the affairs and management of the society; penal provisions for non filing of returns; non-admission of new members by the administrators when the board is under supersession; obligation on the part of a Multi-Stats Co-operative Society to make available its products and services to its members and their patronage by the members, etc.
Background
The objective of Multi-State Co-operative Societies (MSCS) Act 2002 is to facilitate the organization and functioning of the cooperative societies having jurisdiction in more than one States. This Act which came in force with effect from 19.8.2002 was enacted to replace the Multi-State Cooperative Societies Act, 1984. The Act facilitates voluntary formation and democratic functioning of multi-state cooperative societies as member driven institutions based on self-help and mutual aid and to enable them to promote their economic and social betterment and provides for functional autonomy.
Based on the experience of implementation of the MSCS Act, 2002, interaction and feedback received from various stakeholders including the multi- state co-operative societies and recommendations made by the High Powered Committee on Cooperatives constituted by the Government of India under the chairmanship of Shri S.O. Patil, a need was felt to further amend the Multi-State Co-operative Societies Act, 2002 to keep the legislation in tune with the changing economic policies and to facilitate the multi-state co-operative societies to take advantage of the new and emerging opportunities.
ad/hs/vk/dk/kol/17:23 hrs.
--
Palash Biswas
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