INDIA
FOREIGN INVESTMENT IN MULTI- BRAND RETAIL TRADE
The 2012 Winter Session of Lok Sabha occurred from 22 November to 21 December. During the Session, the House faced disruption of its proceedings for days together over the government’s decision
to allow 51 per cent foreign direct investment (FDI) in multi-brand retail trade. It became a major bone of contention between the ruling and opposition Benches. On 22 November, the All India Trinamool Congress (AITC) party
tried to bring an adjournment motion in the Lok Sabha on the issue. Leave to move the adjournment motion however, was not granted due to the lack of support of less than 50 Members. The Speaker of Lok
Sabha, Smt. Meira Kumar, made several attempts to break the deadlock. The matter was finally resolved when it was decided to discuss the issue under rule 184 that provided for voting. On 29 November, the Speaker
THIRD READING: INDIA
The Unlawful Activities (Prevention) Amendment Bill, 2012 The Unlawful Activities (Prevention) Act, 1967 was enacted to provide for the more effective prevention of certain unlawful activities of individuals, associations and for matters connected. The scope of the Act was widened in 2004 and terrorist activities were brought within the scope of the said Act. An Inter-Ministerial Group was constituted to evaluate the existing
provisions of the Unlawful Activities (Prevention) Act, 1967 and to recommend necessary amendments. In addition, the Financial Action Task Force, an inter-governmental organization set-up to devise policies to combat money laundering and terror financing admitted India as its 34th member. On the basis of commitment made by India at the time of admission to the said Financial Action Task Force, various legislative and other legally binding measures were required to be taken on a medium term basis, i.e., by 31 March, 2012. These recommendations, were examined and it was proposed to amend the Unlawful Activities(Prevention) Act, 1967 to make it more effective in prevention of unlawful activities and dealing with terrorist activities. The government brought forward the Unlawful Activities(Prevention) Amendment Bill, 2012 with the proposed amendments to the Unlawful Activities (Prevention) Act, 1967, to bring more clarity to the existing legal framework, and remove the deficiencies identified in the implementation of the provisions by the Central and State intelligence and investigating agencies. Highlights of the amending Bill included defined key terms such as:
• Economic security: Financial, monetary and fiscal stability, as well as ecological and environmental security;
• Person: 1. an individual; 2. A company; • Proceeds of terrorism: 1. All kinds of properties which have been derived or obtained from commis-
sion of any terrorist act irrespective of person in whose name such proceeds are standing or in whose possession they are found; or 2. Any property which is being used, or is intended to be used, for a terrorist act or for the purpose of an individual terrorist or a terrorist gang or terrorist organization.
Section 16A of the Principal Act which outlined the punishment for making
demands of radioactive substances, nuclear devices etc., was repealed, and Section 17 was substituted by a new sub-section 17 A detailing the punishment regarding accepting funds linked to terrorists groups or individuals. New Sections have been inserted, providing for offences by companies
(22A); for offences by securities trust (Section 22B) and regarding offences by companies, societies or trusts (Section 22 C) During the discussion on the Bill in Parliament, members welcomed the
initiative for enlarging the scope of the Section 17 of the Act, which in as much as raising of funds, both from legitimate or illegitimate sources by terrorist organizations or by terrorist gangs or by individual terrorists has been deemed to be a terrorist act. Members expressed hope that illegitimate funds that were being invested in stocks and real estate would now be targeted and confiscated. Members felt that this amendment would help India in dealing with financial or economic terrorism posed by internal or external forces. The Minister in charge of the Bill while replying to the debate assured members that it was an endeavor to bring more clarity in the existing legal framework; identify deficiencies and remove them; and establish proper coordination with magisterial power. The Minister also assured that the law would not be used against any particular section of the people and would be applied judiciously. The Bill was passed by Lok Sabha on 30 November, 2012 and by
Rajya Sabha on 20 December, 2012. The Bill as passed by both houses of Parliament was assented by President of India on 3 January 2013.
The Parliamentarian | 2013: Issue One | 79
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