Saturday 24 October 2020

Central govt lists 3 Finance Bills for passage in Lok Sabha on Friday

- Posted on 18 September 2020

New Delhi, Sep 18 : The central government has listed three Finance Bills for consideration and passage in the Lok Sabha on Friday, the fifth day of the ongoing Monsoon Session of Parliament.

Almost an hour after the Lower House will assemble for the day, Companies (Amendment) Bill, 2020; Bilateral Netting of Qualified Financial Contracts Bill, 2020; and Factoring Regulation (Amendment) Bill, 2020 will be moved by Union Finance Minister Nirmala Sitharaman for passage.

The House will meet at 3 pm on Friday.

The Companies (Amendment) Bill, 2020 seeks to amend the Companies Act, 2013. The Bill was moved in the Lok Sabha on March 17, 2020 to introduce certain modifications to the Companies Act, 2013 with a view to promote ease-of-doing business and ease of living to corporates in India.

The Minister will also move the Bilateral Netting of Qualified Financial Contracts Bill, 2020 for passage to ensure financial stability and promote competitiveness in Indian financial markets by providing enforceability of bilateral netting of qualified financial contracts.

The Factoring Regulation (Amendment) Bill, 2020 seeks to amend the Factoring Regulation Act, 2011.

Besides, the Minister will also introduce the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020 in the House to provide for relaxation and changes in provisions of certain Acts.

The Bill will replace the Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020.

Earlier, the Secretary General will lay on the table the 154th Report on Export of Agricultural and Marine Products, Plantation Crops, Turmeric and Coir of the Standing Committee on Commerce.

The report was presented to the Rajya Sabha Chair on August 26 when the House was not in session.

The Secretary General will also lay 102nd Report on Effectiveness of Vigilance Administration in certain Revenue and Banking Institutions and Selected Central Public Sector Enterprises (CPSEs); 103rd Report on Functioning of the Virtual Courts or Courts Proceeding through Videoconferencing -Interim Report.

Also, 104th Report on the Action Taken on 100th Report of the Committee on Demands for Grants (2020-21) pertaining to the Ministry of Personnel, Public Grievances and Pensions as well as 105th Report on the Action Taken on 101st Report of the Committee on Demands for Grants (2020-21) pertaining to the Ministry of Law and Justice will be laid on the table of the Lower House.

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