Ministry Of Law & Justice
President
promulgates four Ordinances
Posted On: 21 FEB 2019
The President of India on the 21st February, 2019 has
promulgated the following four Ordinances, namely:-
- The Muslim Women (Protection of Rights on Marriage) Second
Ordinance, 2019 (Ord. 4 of 2019).
- The Indian Medical Council (Amendment) Second Ordinance,
2019 (Ord. 5 of 2019).
- The Companies (Amendment) Second Ordinance, 2019 (Ord. 6 of
2019).
- The Banning of Unregulated Deposit Schemes Ordinance, 2019
(Ord. 7 of 2019).
The Muslim Women (Protection of Rights on Marriage) Second
Ordinance, 2019 has been promulgated to give continued effect to
the provisions brought in by the Muslim Women (Protection of
Rights on Marriage) Ordinance, 2019. This Ordinance, inter alia,
declares the practice of triple talaq to be void and illegal and
also to make it an offence punishable with imprisonment up to
three years and fine.
The Ordinance will protect the rights of married Muslim women
and deter the practice of divorce by triple talaq (i.e., talaq
–e –biddat). It also provide for payment of subsistence
allowance and custody of minor children.
The Indian Medical Council (Amendment) Second Ordinance, 2019
has been promulgated to give continued effect to the work
already done by the Board of Governors (BOG) as per the
provisions of earlier Ordinance. This Ordinance, inter alia,
enables the Board of Governors appointed in supersession of the
Medical Council of India (MCI) to continue to exercise the
powers of MCI for a period of two years or till the Council is
reconstituted, whichever is earlier so as to ensure
transparency, accountability and quality in the governance of
medical education in the country.
In pursuance of the Government's objective of providing Ease of
Doing Business to Law abiding corporate while simultaneously
strengthening the corporate governance and compliance framework
enshrined in the Companies Act, 2013, the Companies (Amendment)
Second Ordinance, 2019 has been promulgated with a view, to
empower the Central Government to allow certain companies to
have a different financial year instead of as determined by the
Tribunal. This Ordinance, inter alia, addresses the need to
impose civil liability for technical and procedural defaults of
a minor nature and to plug the corporate governance and
enforcement frame work, through the following: (i) re-
categorisation of 16 minor offences as civil defaults which will
de-clog special courts; (ii) transfer of certain routine
functions such as permitting conversion of a public company into
a private company from NCLT to the Central Government; (iii)
making non-maintenance of registered office and non-reporting of
commencement of business as grounds for striking of from
register of companies; and (iv) breach of ceiling on
Directorships being made a ground for disqualification; (vi)
Enhancing the pecuniary jurisdiction of Regional Director’s for
compounding offences under the Companies Act with a view to
unburdening the NCLT of routine functions etc.
The Banning of Unregulated Deposit Schemes Ordinance, 2019 has
been promulgated to have a central legislation to tackle the
menace of illicit deposits taking activities in the country.
Presently, non-banking entities are allowed to raise deposits
from the public under the provisions of various statutes enacted
by the Central Government and State Governments. However, the
regulatory frame work for deposit taking activity in the country
is not seamless. Despite such diverse regulatory frame work,
schemes and arrangements leading to unauthorised collection of
money and deposits fraudulently by inducing public to invest in
uncertain schemes promising high returns or other benefits are
still operating in the society.
This Ordinance, therefore, ensures a comprehensive ban on
unregulated deposit taking activity and for its effective
enforcement. It aims to prevent such unregulated deposit schemes
or arrangements at their inception and at the same time makes
soliciting, inviting or accepting deposits pursuant to an
unregulated deposited scheme as a punishable offence. The said
Ordinance also seeks to put in place a mechanism by which the
depositors can be repaid without delay by attaching the assets
of the defaulting establishments.
PIB
