Skip to main content

President promulgates Enemy Property (Amendment and Validation) Ordinance, 2016

  • The President of India has promulgated the Enemy Property (Amendment and Validation) Ordinance, 2016 on January 07, 2016 to make amendments to the Enemy Property Act, 1968.
  • The amendments through the Ordinance include that once an enemy property is vested in the Custodian, it shall continue to be vested in him as enemy property irrespective of whether the enemy, enemy subject or enemy firm has ceased to be an enemy due to reasons such as death etc; that law of succession does not apply to enemy property; that there cannot be transfer of any property vested in the Custodian by an enemy or enemy subject or enemy firm and that the Custodian shall preserve the enemy property till it is disposed of in accordance with the provisions of the Act.
  • The above amendments to the Enemy Property Act, 1968 will plug the loopholes in the Act to ensure that the enemy properties that have been vested in the Custodian remain so and they do not revert back to the enemy subject or enemy firm.
  • The Enemy Property Act was enacted in the year 1968 by the Government of India, which provided for the continuous vesting of enemy property in the Custodian. The Central Government through the Custodian of Enemy Property for India is in possession of enemy properties spread across many states in the country. In addition, there are also movable properties categorized as enemy properties.
  • To ensure that the enemy property continues to vest in the Custodian, appropriate amendments were brought in by way of an Ordinance in the Enemy Property Act, 1968 by the then Government in 2010.
  • This Ordinance, however lapsed on 6th September, 2010 and a bill was introduced in the Lok Sabha on July 22, 2010. However, this bill was withdrawn and another bill with modified provisions was introduced in the Lok Sabha on 15th November, 2010. This bill was thereafter referred to the Standing Committee. However, the said bill could not be passed during the 15th term of the Lok Sabha and it lapsed.
  • In the wake of the Indo-Pak war of 1965 and 1971, there was migration of people from India to Pakistan. Under the Defence of India Rules framed under the Defence of India Act, the Government of India took over the properties and companies of such persons who had taken Pakistani nationality. These enemy properties were vested by the Central Government in the Custodian of Enemy Property for India.
  • After the 1965 war, India and Pakistan signed the Tashkent Declaration on 10.01.1966. The Tashkent Declaration inter alia included a clause, which said that the two countries would discuss the return of the property and assets taken over by either side in connection with the conflict. However, the Government of Pakistan disposed of all such properties in their country in the year 1971 itself.
Labels:

Comments

Post a Comment

Popular posts from this blog

Budget basics: A glossary of terms used in Budget

Disinvestment Receipts The term refers to the money raised by the Government through disinvestment, or the sale of its equity stake in companies it owns. Fiscal Responsibility and Budget Management Act The Act is an attempt to make the Government adhere to a phased plan to reduce fiscal deficit, which denotes an excess of expenditure over revenue. Dividend Distribution Tax This is a tax levied on companies that pay out dividends to its shareholders, i.e. share a portion of earnings with them. Venture Capital Funds These are funds that invest in startups, a financially riskier proposition than investing in established companies. Securities Transaction Tax It is a tax on all transactions done over the stock exchanges involving securities such as shares, derivatives, and equity-linked mutual funds. Wholesale Price Index (WPI) It is a measure of inflation, or price change, arrived at after regularly measuring the prices of a slew of wholesale goods. Consumer Price...
Post a Comment
Read more

Indian Missile Systems and other developments 2015-16

#1. Defence Capability Enhancements   India’s biggest ship, aircraft carrier INS Vikramaditya, finally arrives source: NDTV.com INS Vikramaditya is a Kiev class aircraft carrier  which was commissioned by Russian Navy in 1987 under the name Baku. It was later renamed as Admiral Gorshkov and last sailed in 1995 in Russia, before being offered to India. India agreed to buy it in 2004 for $974 million. The cost kept shooting up as Russia delayed the delivery by over five years. INS Kolkata – Biggest warship ever to be built in India till date source: NDTV.com INS Kolkata is the lead ship of the Kolkata-class stealth guided-missile destroyers of the Indian Navy. She was constructed at Mazagon Dock Limited (MDL),  and was handed over to the navy on 10 July 2014.  A bit of an old news but mightier still! INS Kolkata, under the Project 15 Alpha, belongs to the destroyer class and is the first of three ships currently under construction Being wholly constructed...
Post a Comment
Read more

Inland Waterways in India

Here are some key points you need to know: The bill seeks to add 106 inland waterways to the existing six National Waterways on the recommendations of the Parliamentary Standing Committee on Transport, Tourism and Culture and comments of several state governments The bill will also look after the renovation and maintenance of the existing waterways Out of the 106 new waterways, 18 have already been identified. These include five waterways each from Karnataka and Meghalaya, three each from Maharashtra and Kerala, one each from Tamil Nadu and Rajasthan The bill also aims to help the Inland Waterways Authority of India (IWAI) to develop the feasible stretches for Shipping and Navigation. Let us look at the six existing National Waterways in India: National Waterway 1 (NW1) The National Waterway No. 1 uses a 1,620-kilometre stretch of the Ganges River. It was declared a national waterway in the year 1986 and runs from Allahabad in Uttar Pradesh to Haldia in West Bengal....
Post a Comment
Read more