Current Affairs - Bills and Acts

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Exercise :: Bills and Acts - Latest Current Affairs

  • Bills and Acts - Latest Current Affairs
1. 

Name the bill that was passed in the Parliament that seeks to clarify that allottees under a real estate project should be treated as financial creditors.

A. Recovery of Non-Performing Assets Bill, 2017
B. Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018
C. Insolvency and Bankruptcy Code (First Amendment) Bill, 2017
D. Recovery of Non-Performing Assets (Amendment) Bill, 2018

Answer: Option B

Explanation:

Parliament has passed the Insolvency and Bankruptcy Code (Second Amendment) Bill,2018 with the Rajya Sabha's approval. The Bill seeks to clarify that allottees under a real estate project should be treated as financial creditors. Home buyers will get due representation in the Committee of Creditors and make them an important part of decision making process. Setting up of a special dispensation for small sector enterprises has also been made.

2. 

Which of the following country's Parliament approved Anti-Defection Bill?

A. Maldives
B. Mauritius
C. Fiji
D. Seychelles

Answer: Option A

Explanation:

The Maldives Parliament has approved the anti-defection bill with retrospective effect amidst the boycott by opposition MPs. According to the bill, MPs elected on political party tickets will lose their seat if they leave their party, get expelled, or switch parties. The bill would take effect from 13th July 2017, meaning that the 12 MPs that switched to the Opposition last year would lose their seats. The bill was passed with 35 votes as opposition MPs continued to boycott the settings.

3. 

Central Board of Direct Taxes (CBDT) clarified that farmers do not need to quote Permanent Account Number (PAN) for cash sale of their produce up to Rs ____ a day?

A. 2 lakh
B. 2.5 lakh
C. 3 lakh
D. 5 lakh

Answer: Option A

Explanation:

Central Board of Direct Taxes (CBDT) clarified that farmers do not need to quote Permanent Account Number (PAN) for cash sale of their produce up to Rs 2 lakh a day.