Bills and Acts
Summary of latest bill and acts passed or pending in 2018 in Parliament of India with their salient features and issues for Current Affairs 2018 preparation for various examinations.
Category Wise PDF Compilations available at This Link
President Ram Nath Kovind has given assent (under Article 111) to Fugitive Economic Offenders Bill, 2018 passed by Parliament. With this assent, this Bill becomes law that will deter fugitive economic offenders to evade legal process in India and flee the country. The law aims to serve as an effective, expeditious and constitutional way to stop these offenders from running away.
Fugitive Economic Offenders Act, 2018
The new law defines fugitive economic offender (FEO) as any individual against whom warrants for arrest is issued for his involvement in select economic offences involving amount of at least Rs 100 crore or more and has left India so as to avoid criminal prosecution. It allows designated special court to declare person as fugitive economic offender and to confiscate his property, including benami ones. It vests all rights and title in confiscated property from date of the confiscation order in central government and it will be free from all encumbrances. Enforcement Directorate (under Ministry of Finance) will be investigative agency under the Act.
Negotiable Instruments (Amendment) Act, 2018
President also gave assent to Negotiable Instruments (Amendment) Act, 2018. It is aimed at allowing a court to try offences related to cheque bounce expeditiously and direct the drawee to pay a minimum of 20% of cheque amount as interim compensation.
State Banks (Repeal and Amendment) Act, 2018
President also gave assent to State Banks (Repeal and Amendment) Act is to repeal two other laws State Bank of India (Subsidiary Banks) Act, 1959 and State Bank of Hyderabad Act, 1956. It further amend the State Bank of India Act of 1955.
Lok Sabha has passed National Sports University Bill, 2018 by voice vote to set up the country’s first National Sports University in Imphal (west), Manipur that will provide sports education, research and coaching. The Bill replaces National Sports University Ordinance, 2018 promulgated by President in May 2018 to protect interests of students who already have been enrolled in National Sports University.
National Sports University Bill, 2017
The Bill establishes National Sports University in Manipur. It is mandated to promote sports education in areas of sports sciences, sports technology, sports management, and sports coaching. It will function as national training centre for select sports disciplines. The Bill empowers University to grant degrees, diplomas and certificates. It also allows Government to establish campuses and study centres in other parts of the country.
Objectives of University
- Research, development and dissemination of knowledge in physical education and sports sciences.
- Strengthening physical education and sports training programmes.
- Generating knowledge capabilities, skills and competence at various levels.
- Training talented athletes to help them to evolve into international level athletes.
The specialised university for sports will be first of its kind in the country and it will adopt best international practices. Manipur government already has allocated land for proposed university. The proposal to set up national sports university in Manipur was initially announced by Prime Minister Narendra Modi. It was approved in 2014-15 budget with Rs. 100 crore allocation. This university is expected to bridge gap that exists in sports environment of country in various areas such as sports science, sports technology, high performance training.