Committee on Economic and Commercial Laws

1. Committee on Economic and Commercial Laws Action Plan for the Year 2009-10 Committee on Economic and Commercial Laws

2. The Committee approved the Action Plan for the Year 2009-10 as follows: 1. Certificate Course on Arbitration • To organize the Certificate Course on Arbitration at Metros and Non-Metros • As far as possible the Course be conducted at Non-Metros in association with the Regional Councils and its Branches • To organize the Refresher Course on Arbitration for the participants who have already undergone the Certificate Course for updating their knowledge Committee on Economic and Commercial Laws

3. 2. Promotion of Panel of Arbitrators • Promoting awareness about benefits to the parties in utilizing the services of the members empanelled on the ICAI Panel of Arbitrators • Promote use of ICAI Arbitration Rules and provisions of Arbitration by Chartered Accountants in case of disputes between Chartered Accountants for resolving Inter-firm and Intra- firm disputes • Jointly organising the Seminars/ Conferences with various Associations to create awareness about the role CAs can play in Arbitration / Conciliation/ Mediation proceedings especially with respect to Finance, Accounting, Taxation matters etc. • To interact with various Trade Bodies to make use of our Panel of Arbitrators. Committee on Economic and Commercial Laws

4. Contd… • Writing letters to High Courts and Chambers of Commerce in the country and Arbitral Institutions in India and Abroad. • To update the Panel of Arbitrators from time to time • Hosting of the Panel of Arbitrators at the website of the Institute • Announcement regarding the Panel of Arbitrators in the Journal of the Institute Committee on Economic and Commercial Laws

5. 3. Submission of Comments/Views/Suggestions on the following Bills to appropriate Government Authorities: • Forward Contracts (Regulations) Amendment Bill, 2008 • The Micro Financial Sector (Development and Regulation) Bill, 2007 • On any other Bill with which the Committee is concerned which may be introduced in the Lok Sabha and /or the Rajaya Sabha • On any other Amendment Bill/Report/Draft Regulations desired by the Council /Government /Ministry • To submit the representations through Representation Committee to the various Government Authorities. Committee on Economic and Commercial Laws

6. 4. To organize Workshops, Seminars, Conferences on the following Acts The primary focus for the current year may be on: • Arbitration and Conciliation Act, 1996 • Competition Act, 2002 • Foreign Exchange Management Act, 1999 and Foreign Direct Investment • Foreign Contribution (Regulation) Act, 1976 and Trust Laws • Special Economic Zone Act, 2005 Committee on Economic and Commercial Laws

7. Contd…. The following other areas as taken up in the earlier year may also be suitably dealt with: • RTI Act, 2005 • Drafting & Conveyancing • Securitisation Laws • Consumer Protection Act, 1986 • Insolvency Laws, Debt Recovery and Allied Laws To organize the same by the Regional Councils and/or its Branches on behalf of the Committee Committee on Economic and Commercial Laws

8. 5. Preparation /Development of Background Material To prepare/develop Background Materials on the following Acts for creating awareness among the members in general and for circulation amongst the participants in respect of programmes held in accordance with Para 4 above i.e. : • Arbitration and Conciliation Act, 1996 • Competition Act, 2002 • Foreign Exchange Management Act, 1999 and Foreign Direct Investment • Foreign Contribution (Regulation) Act, 1976 and Trust Laws • Special Economic Zone Act, 2005 Committee on Economic and Commercial Laws

9. Contd… And to explore the possibility of bringing out appropriate material on the following: • Prevention of Money laundering Act, 2002 • The Presidency Towns Insolvency Act, 1909 • The Provincial Insolvency Act, 1920 • Corporate insolvency under the Companies Act, 1956 • Consumer Protection Act, 1986 Committee on Economic and Commercial Laws

10. 6. Publication of Books Revision of the following earlier publications of the Committee: • A Study on Foreign Contribution (Regulation) Act, 1976 • Referencer on FEMA (Foreign Exchange Management Act, 1999) • Handbook on Foreign Trade Policy Committee on Economic and Commercial Laws

11. Contd… New Publications of the Committee: • A Study on Prevention on Money Laundering Act, 2002 • Handbook on professional Opportunities in Economic and Commercial Laws • A study on Drafting, Conveyance, Stamping and Registration of Commercial and other Documents. • To bring out more Publications on the topics related to various Economic and Commercial Laws Committee on Economic and Commercial Laws

12. 7. Research work To have focus on the following five topics for research work: • Arbitration and Conciliation Act, 1996 • Competition Act, 2002 • Foreign Exchange Management Act, 1999 and Foreign Direct Investment • Foreign Contribution (Regulation) Act, 1976 and Trust Laws • Special Economic Zone Act, 2005 Committee on Economic and Commercial Laws

13. Contd.. • In addition, to above, to conduct research (including empirical studies) on areas of relevanvce to Corporates and Industries Sector in view of the rapid changes taking place in the field of Economic and Commercial laws. To consider the findings of the above and to formulate the suggestions and suggest the same with viable solutions to the stakeholders • To conduct research on the Case Studies and prepare Monographs thereon Committee on Economic and Commercial Laws

14. 8. Panel of Resource Persons To prepare and maintain the panel of resource persons to act as faculty, for preparing the draft of the publications, background material etc. Committee on Economic and Commercial Laws

15. Thank You Committee on Economic and Commercial Laws