5 key bills has been approved by President Pranab Mukherjee [ Current Affairs ]

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As per the provisions of Article 111 of the Constitution of India 5 key bills are approved by President Pranab Mukherjee. And these five bills are currently passed by both the houses of Parliament, Lok Sabha and Rajya Sabha in winter session of Parliament.

These five bills are

Arbitration and Conciliation (Amendment) Act, 2015:

  • Under this bill 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:

  • According to this bill 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:

  • Under this bill the monthly bonus calculation ceiling will be enhances to Rs. 7, 000 per month from the existing Rs. 3, 500.
  • The eligibility limit for payment of bonus from existing Rs. 10, 000 per month to Rs. 21, 000 per month will be also enhanced.

Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015:

  • According to this law it enables setting up commercial benches in select high courts.

- Published on: January 8, 2016