Latest news with #Bill
The Star
an hour ago
- Business
- The Star
Cross-Border Insolvency Bill boosts debt recovery
THE Dewan Rakyat has passed the Cross-Border Insolvency Bill 2025, which will allow local creditors to recover debts from insolvent companies within the Asean region. Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said said the Bill establishes a clear, modern legal framework aligned with international best practices, particularly the UNCITRAL Model Law on Cross-Border Insolvency. 'The Bill aims to enhance investor confidence in Malaysia's insolvency system,' she said during her winding-up speech. Azalina added that her ministry has taken several steps to facilitate the enforcement of the Bill, such as amending the Rules of Court 2012 and organising training sessions for stakeholders. Azalina said the Legal Affairs Division (BHEUU) of the Prime Minister's Department, in collaboration with the Malaysian Judicial Academy, will conduct special training for High Court judges handling civil and trade cases. Azalina said the Bill was introduced to create an effective mechanism to handle cross-border insolvency cases. 'This will give investors greater clarity on what to expect during financial distress and boost foreign investment in Malaysia.' To safeguard national interests, Azalina said sub-clause 5(2) of the Bill allows the High Court to reject any application for recognition or relief from foreign insolvency proceedings if it affects public interest, economic stability, capital markets, national security or consumer confidence. 'The courts retain full discretion to deny recognition based on public policy considerations, as expressly stated in the Bill.' The law applies to companies with debts to be paid will not only have its local entity be liable, but its foreign branches too. The law would also apply to foreign companies in debt overseas but with branches in Malaysia.
The Star
2 hours ago
- Health
- The Star
More bite against poison through enhanced enforcement
PETALING JAYA: The broader enforcement powers under the amended Poisons Act (Act 366) will enable effective enforcement against offences related to the misuse of poisons and psychotropic substances, say two ministries. The Health and Home ministries said under the amendment, which was passed in the Dewan Rakyat on Monday, all police officers, regardless of rank, and those appointed by the Health Ministry would be given enforcement powers to handle poisons, including drugs and psychotropic substances. Under the existing Act, enforcement powers were limited to drug enforcement officers, including pharmacists, police officers with the rank of inspector and above, and senior Customs officers. Act 366 governs the aspects of the use, possession and distribution of poisons and psychotropic substances in Malaysia. 'This amendment aims to increase the effectiveness of enforcement against offences of misuse of poisons and psychotropic substances as well as to ensure actions that are faster, comprehensive and more responsive in addressing threats to public health and national security,' they said in a joint statement yesterday. The ministries noted that patrolling and inspection were usually carried out by lower-ranking police officers such as constables and corporals. 'Therefore, the expansion of powers of the police force regardless of rank will enhance the efficiency and reach of enforcement operations. 'In addition, there are areas that do not have the permanent presence of authorised officers under this Act. 'To close this gap, the law also provides power to the Health Minister to appoint other officers, subject to terms and conditions, to assist in the enforcement when necessary,' they said. The ministries said the amendment showed the government's continuous commitment, especially the Health Ministry, to address the misuse of controlled substances through a stronger, more inclusive, and more comprehensive enforcement approach. 'It is also in line with the aspirations of Madani values, namely sustainability and well-being – in order to protect the well-being of the people and the security of the nation,' they said. The Bill was passed by a voice vote after being debated by 12 MPs from both the government and opposition blocs. The Malaysian Medical Association (MMA) recently voiced strong concern about the amendment and urged the government to halt its progress in Parliament until proper engagement was conducted with stakeholders in the healthcare sector. Its president Datuk Dr Kalwinder Singh Khaira said the association and other medical professional bodies were deeply concerned that the Bill was tabled without prior consultation with key stakeholders, including the MMA. Dr Kalwinder said the language of the Bill was overly broad and raised red flags regarding enforcement powers and the implications for private healthcare services. He pointed specifically to Clause 2, which designates all police officers as authorised officers under the Act, and the proposed Section 31A, which grants the Health Minister power to appoint 'any person' without specifying qualifications.
Time of India
5 hours ago
- Politics
- Time of India
Shop & Factories Act amended, women can work in night shifts
Bhopal: Madhya Pradesh assembly on Tuesday passed an amendment Bill in the Shop & Factories Act thereby allowing women to work in the night shift also at their workplace. The Bill said that the Bill aims at ensuring gender inclusivity at the workplace and said the employer will be responsible for safety of women at workplace and during transportation. The state cabinet has already passed the Bill. After the Bill comes into effect, women workers will be allowed to work night shifts (9.00 pm to 7.00 am) in factories and commercial establishments. A written consent of the woman worker concerned would be mandatory. Minister for labour Prahlad Patel said the bill aims at gender inclusivity at the workplace and at the same time ensuring safety of women.
Mint
6 hours ago
- Business
- Mint
Income Tax Bill 2025: No change in tax rates, focus on simplifying language. Here's what IT dept says
The income tax department clarified that the new Income Tax Bill, 2025, does not propose any changes to tax rates, including long-term capital gains. The bill focuses on simplifying language and eliminating outdated provisions. In a post on the social media platform X, the Income Tax Department informed, 'There are news articles circulating on various media platforms that the new Income Tax Bill, 2025 proposes to change tax rates on LTCG for certain categories of taxpayers. It is clarified that the Income Tax Bill, 2025 aims at language simplification and removal of redundant/obsolete provisions.' The department added, 'It does not seek to change any rates of taxes. Any ambiguity in this respect shall be duly addressed during the passing of the Bill.' The new Income Tax Bill of 2025 was presented in Parliament in February and subsequently forwarded to a parliamentary committee. The committee submitted its recommendations regarding the bill to Parliament on July 21. The proposed Income Tax bill aims to enhance ease of doing business, lessen individual taxpayers' litigation burdens, and boost confidence for both small and large investors to Make in India and create jobs, member of select committee of Parliament Milind Deora said on Friday. 'This bill has seen several amendments. The government's objective, which is the right idea, is that this bill which is over 60 years old and has so many amendments to do away with that bill and replace it with a new, fresh bill is a new idea," Deora said. "I think that step on its own and intent will leader of reduced harassment, improve ease of doing business and will give investments to Make in India, invest in India and to create jobs," he added. Deora highlighted that the 60-year-old IT Bill contains many outdated provisions which have been previously amended. He stated that this bill will benefit both MSMEs and larger foreign companies, while also easing the burden on individual taxpayers. The proposed income tax bill contains 23 chapters and 536 provisions, a significant reduction from the previous 47 chapters and 819 provisions in the 1961 bill. (With inputs from agencies.)
The Hindu
6 hours ago
- Business
- The Hindu
IT/ITeS union cheers Karnataka government's move to scrap proposal on increasing work hours
With reports of the Karnataka government deciding to scrap the proposal to increase working hours, the Karnataka State IT/ITeS Employees Union (KITU) called it an accomplishment of the months-long campaigns IT and ITeS employees have been organising across the State. 'Over the past one-and-a-half months, the KITU has organised widespread protests and continuous campaigns against the proposed Bill — in IT parks, on the streets, and in front of IT companies — drawing massive participation from employees. This relentless struggle compelled the Karnataka government to retreat from its attempt to extend working hours in the sector. In a meeting with the KITU office-bearers, Additional Labour Commissioner G. Manjunath communicated the decision to scrap the proposed amendment,' said a communique from Suhas Adiga, general secretary, KITU. The union members visited the Additional Labour Commissioner's office on Tuesday to register their concerns about a recent layoff announcement by TCS. According to them, Mr. Manjunath communicated the decision during the visit. Reports had earlier emerged that the State government has decided to reject the Centre's proposal to amend the Karnataka Shops and Establishments Act of 1961 and increase working hours to nine to 10 hours a day. When contacted by The Hindu, Mr. Manjunath noted that he was unaware whether the department Secretary had sent the email to the Government of India. 'If the State government has made the decision and the communication is going from the Secretary, the matter will end there. The Central government cannot insist on the State when it comes to matters related to labour,' he said.
