1. THE JAMMU AND KASHMIR REORGANISATION BILL, 2019
- The bill was introduced in rajya sabka by home minister Amit shah on 5th Aug 2019. It was passed by Lok sabka on 6th Aug 2019 and finally it received the assent of president on 9 Aug 2019. According to this bill, the state is reorganised as two union territories. the Jammu and Kashmir will be the first union territory and Ladakh will be the second. The jammu and Kashmir will have a legislative assembly of its own and Ladakh will be governed by the lieutenant governor. The high court of Jammu and Kashmir will work as high court for both union territories.
2. The companies amendment bill, 2019
- The bill was moved by finance minister nirmala sitharaman in lok sabha on 25th July, it was passed by rajya sabha on 30 July and it finally received the assent of president on 31st July 2019. It is passed to amend the companies amendment bill of 2013. The bill seeks the mandatory compliance of CSR i.e. corporate social responsibility. Certain important points that are introduced in the bill are:
- 16 minor offences are categorised as civil defaults.
- it gives power to the registrar of companies to remove the name of the company from the register in case of non-compliance with the provisions of the act.
- it made mandatory for the companies to keep the unspent money in the special account.
- the companies with profit over more than 5 crore, turnover of 100 crore and net worth of more than 500 crores have to spend their 2% of the 3 year annual average net profit in CSR.
- A board shall be constituted as CSR committee to maintain and formulate the implementation of CSR activities.
- The bill was introduced in rajya sabka by home minister Amit shah on 5th Aug 2019. It was passed by Lok sabka on 6th Aug 2019 and finally it received the assent of president on 9 Aug 2019. According to this bill, the state is reorganised as two union territories. the Jammu and Kashmir will be the first union territory and Ladakh will be the second. The jammu and Kashmir will have a legislative assembly of its own and Ladakh will be governed by the lieutenant governor. The high court of Jammu and Kashmir will work as high court for both union territories.
2. The companies amendment bill, 2019
- The bill was moved by finance minister nirmala sitharaman in lok sabha on 25th July, it was passed by rajya sabha on 30 July and it finally received the assent of president on 31st July 2019. It is passed to amend the companies amendment bill of 2013. The bill seeks the mandatory compliance of CSR i.e. corporate social responsibility. Certain important points that are introduced in the bill are:
- 16 minor offences are categorised as civil defaults.
- it gives power to the registrar of companies to remove the name of the company from the register in case of non-compliance with the provisions of the act.
- it made mandatory for the companies to keep the unspent money in the special account.
- the companies with profit over more than 5 crore, turnover of 100 crore and net worth of more than 500 crores have to spend their 2% of the 3 year annual average net profit in CSR.
- A board shall be constituted as CSR committee to maintain and formulate the implementation of CSR activities.
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