The President Ram Nath Kovind today promulgated four Ordinances, including one one Triple Talaq, on which the government failed to get nod of the Rajya Sabha in the recent session. The ordinances are The Muslim Women (Protection of Rights on Marriage) Second Ordinance, 2019, The Indian Medical Council (Amendment) Second Ordinance, 2019, The Companies (Amendment) Second Ordinance, 2019 and the Banning of Unregulated Deposit Schemes Ordinance, 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 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.
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.