Economic and Labour Laws ICSI

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for the Economic and Labour Laws paper of the CS Executive Programme It is part of the education kit and takes the students step by step through each phase of preparation stressing key concepts pointers and procedures Company Secretaryship being a professional course the examination standards are set very high with emphasis on knowledge of concepts applications procedures and case laws


THE INSTITUTE OF COMPANY SECRETARIES OF INDIA,TIMING OF HEADQUARTERS. Monday to Friday,Office timings 9 00 A M to 5 30 P M. Public dealing timings, Without financial transactions 9 30 A M to 5 00 P M. With financial transactions 9 30 A M to 4 00 P M,41504444 45341000. 011 24626727,www icsi edu,info icsi edu,EXECUTIVE PROGRAMME.
ECONOMIC AND LABOUR LAWS, India redrafted its economic policy in the year 1991 to usher in a new era. of deregulation liberalisation and global integration Since then significant. policy initiatives have been introduced to provide stimulus for accelerated. growth industrial efficiency and international competitiveness As part of. reform process the Government has also initiated legislative reforms in the. area of economic laws The Government enacted Foreign Exchange. Management Act The Competition Act replacing the MRTP Act and. amended the Consumer Protection Act in the year 2002 The Legal. Metrology Act 2009 replacing Standards of Weights and Measures Act 1976. and Foreign Contribution Regulation Act 2010 replacing Foreign. Contribution Regulation Act 1976 In the area of Intellectual property the. Government has enacted Trade Marks Act and Designs Act and amended. the Patents Act and the Copyright Act In this regard the Government has. further amended the Patents Act in 2005 and notified Trade Mark Rules. 2002 and Patents Rules 2003 as amended in 2005 The Foreign Trade. Policy 2009 14 has also been announced in line with the reform agenda and. amended from time to time Further the Prevention of Money Laundering Act. to deal with new categories of economic offences has also been made. effective w e f 1st July 2005 Similarly in the area of environment and. labour laws the process of reforms is going on, In the light of above developments this study material has been. prepared to provide an understanding of certain economic and labour. legislations which have direct bearing on the functioning of companies The. study material has been divided into two parts consisting of twenty four study. lessons Part A dealing with Economic Laws consists of Study Lessons I to. XII whereas Part B dealing with Labour Laws consists of Study Lessons XIII. This study material has been published to aid the students in preparing. for the Economic and Labour Laws paper of the CS Executive Programme It. is part of the education kit and takes the students step by step through each. phase of preparation stressing key concepts pointers and procedures. Company Secretaryship being a professional course the examination. standards are set very high with emphasis on knowledge of concepts. applications procedures and case laws for which sole reliance on the. contents of this study material may not be enough Besides as per the. Company Secretaries Regulations 1982 students are expected to be. conversant with the amendments to the laws made upto six months. preceding the date of examination The material may therefore be regarded. as the basic material and must be read alongwith the original Bare Acts. Rules Regulations Case Law as well as recommended readings given with. each study lesson, As the area of economic laws undergoes frequent changes it becomes. necessary for every student to constantly update himself with the various. legislative changes made as well as judicial pronouncements rendered from. time to time by referring to the Institute s journal Chartered Secretary as well. as other law professional journals, The legislative changes made upto September 20 2011 have been. incorporated in the study material However it may so happen that some. developments might have taken place during the printing of the study. material and its supply to the students The students are therefore advised to. refer to the Student Company Secretary and other publications for updation. of the study material, In the event of any doubt students may write to the Directorate of.
Academics and Professional Development in the Institute for clarification. Although due care has been taken in publishing this study material yet the. possibility of errors omissions and or discrepancies cannot be ruled out This. publication is released with an understanding that the Institute shall not be. responsible for any errors omissions and or discrepancies or any action. taken in that behalf, Should there be any discrepancy error or omission noted in the study. material the Institute shall be obliged if the same are brought to its notice for. issue of corrigendum in the Student Company Secretary. EXECUTIVE PROGRAMME,MODULE II PAPER 5,ECONOMIC AND LABOUR LAWS. Level of knowledge Working knowledge,Objective To provide an understanding of. i certain economic laws and, ii important labour laws which have direct relevance to the functioning of. Detailed contents,PART A ECONOMIC LAWS 60 MARKS,1 Industries Development and Regulation.
Objects and definitions an overview of current Industrial Policy regulatory. mechanism under IDRA The Micro Small and Medium Enterprises. Development Act 2006,2 Foreign Trade Policy and Procedures. Main features served from India scheme export promotion council vishesh. krishi and gram udyog yojana focus market scheme duty exemption and. remission schemes advance authorisation scheme and DFRC DEPB EPCG. etc EOUs EHTPs STPs BPTs and SEZs,3 Trade Competition and Consumer Protection. Concept of competition development of competition law overview of MRTP Act. Competition Act 2002 anti competitive agreements abuse of dominant. position combination regulation of combinations Competition Commission of. India Appearance before Commission compliance of Competition Law. Consumer protection in India genesis of the law objects rights of consumers. nature and scope of remedies appearance before Consumer Dispute Redressal. 4 Essential Commodities and Standards of Weights and Measures. Objects powers of Central Government seizure and confiscation of essential. commodities summary trial Standards of Weights and Measures Act 1976. 5 Management of Foreign Exchange Transactions, Objectives and definitions under FEMA Current account transactions Capital. account transactions foreign direct investment in India and abroad acquisition. and transfer of immovable property Establishment in India of branch office etc. Export of goods and services Realisation and repatriation of foreign exchange. authorised person penalties and enforcement, Foreign contributions and hospitality Exemptions powers of Central. Government adjudication and appeal offences and penalties. 6 Pollution Control and Environmental Protection, Concept of sustainable development Government policy regarding environment.
law relating to Prevention and Control of Air Pollution and Water pollution. Environment Protection Law Appearance before Environment. Tribunal Authority,7 Management of Intellectual Property Rights. Concept and development of intellectual property law in India Law and. procedure relating to patents trade marks and copyrights Overview of laws. relating to other related intellectual property rights. Intellectual Property Appellate Board,8 Prevention of Money Laundering. Genesis concept and definitions various transactions etc obligations of banks. and financial institutions RBI Guidelines on KYC,PART B LABOUR LAWS 40 MARKS. 9 Minimum Wages Act 1948, Object and scope Minimum Wages Act Advisory Board Central Advisory. Board Authority and claims compliances offences and penalties. 10 Payment of Bonus Act 1965, Object application and major provisions Exemption compliances offences and.
11 Payment of Gratuity Act 1972, Application and major provisions Controlling Authority and the Appellate. Authority obligations and rights of employers and employees and compliances. 12 Employees Provident Funds and Miscellaneous Provisions Act 1952. Application and major provisions Exemption and compliances. 13 Employees State Insurance Act 1948, Application and major provisions Employees State Insurance Employees. State Insurance Corporation Employees Insurance Court Exemptions and. compliances,14 Workmen s Compensation Act 1923, Object scope and major provisions including proceedings before the. Commissioner appeals compliances penalties special provisions. 15 Contract Labour Regulation and Abolition Act 1970. Application scope and major provisions including Advisory boards registration. of establishments appointment of licensing officer Welfare and health. compliances penalties and procedure and inspectors. 16 Industrial Disputes Act 1947, Concept objective and significance Authorities procedure and powers unfair. labour practices penalties,17 Industrial Employment Standing Orders Act 1946.
Object scope and major provisions of the Act and compliances. 18 Factories Act 1948, Object scope and major provisions Authorities compliances and penalties. LIST OF RECOMMENDED BOOKS,ECONOMIC AND LABOUR LAWS. Recommended Readings and References, 1 Vinod Dhall Competition Law Today Concepts Issues. and the Law in Practice Oxford University,Press New Delhi. 2 T Ramappa Competition Law in India Policies Issues. and Developments Oxford University Press, 3 S M Dugar Law of Monopolistic Restrictive and Unfair.
Trade Practices Third Edition 1997 Wadhwa,Company Taxation Publishers P Ltd. 4 ICSI Practitioner s Guide to Consumer Protection. 5 Dr K R Chandratre Handbook on Consumer Protection Law Vidhi. Publishing New Delhi, 6 Dr V K Aggarwal Consumer Protection Law and Practice. Bharat Law House 22 Tarun Enclave,Pitampura New Delhi 110 034. 7 Dr Gurbax Singh Law of Consumer Protection Bharat Law. Publications 22 Tarun Enclave Pitampura,New Delhi 110 034. 8 Kuldeep Saxena Consumer Protection Act Rules Law Links. 9 Sumeet Malik Environmental Law Eastern Book Company. 10 Dr H N Tripathi The Environment Pollution Control Manual. Hari Law Agency Allahabad,11 Lall s Commentaries on Water and Air Pollution.
Laws Delhi Law House Delhi,12 Rajiv Jain Guide to New Industrial Policy with. Procedure India Investment Publications New,13 Bare Act Prevention of Money Laundering Act. 14 Richard Parlour International Guide to Money Laundering Law. and Practice,15 Bare Act Foreign Exchange Management Act. 16 SnowWhite Foreign Exchange Management Manual, 17 S K Roy Chaudhary The Law of Trademarks Copyright Patents. H K Saharay and Design,18 B L Wadehra Law Relating to Patents Trademarks.
Copyright Designs and Geographical,Indications,19 Aswani Kr Bansal Law of Trademarks in India. 20 Satyawrat Ponkse The Management of Intellectual Property. 21 Ministry of Commerce Foreign Trade Policy and Procedure. 22 P L Malik Industrial Law Eastern Book Company 34. Lalbagh Lucknow, 23 N D Kapoor Handbook of Industrial Law Sultan Chand. Sons 23 Darya Ganj New,Delhi 110002, 24 S S Gulshan Economic Labour and Industrial Laws Sultan. G K Kapoor Chand Sons 23 Daryaganj New Delhi 2, 25 P L Malik Labour and Industrial Laws Pocket Edition. Eastern Book Company 34 Lalbagh,Lucknow 226 001, 26 H L Kumar Labour Laws Universal Laws Publishing Co.
Pvt Ltd G T Karnal Road,Delhi 110033, 27 Labour Industrial Laws Universal Law Publishing Co Pvt Ltd G T. Legal Manual Karnal Road Delhi 110033, i Students are advised to read the relevant Bare Acts. ii The latest available editions of the books referred to above may be read. iii Students may refer Student Company Secretary regularly for academic. ARRANGEMENT OF STUDY LESSONS,Study No Subject,I Industries Development and Regulation. II Foreign Trade Policy and Procedure,III IV Trade Competition and Consumer Protection. V Regulation of Production Supply and Distribution of Essential. Commodities,VI Standards of Weights and Measures, VII VIII Management of Foreign Exchange Transactions.
IX X Pollution Control and Environmental Protection. XI Management of Intellectual Property Rights,XII Prevention of Money Laundering. XIII Minimum Wages Act 1948,XIV Payment of Bonus Act 1965. XV Payment of Gratuity Act 1972,XVI Employees Provident Funds and Miscellaneous. Provisions Act 1952,XVII Employees State Insurance Act 1948. XVIII Workmen s Compensation Act 1923, XIX Contract Labour Regulation and Abolition Act 1970.
XX Industrial Disputes Act 1947, XXI Industrial Employment Standing Orders Act 1946. XXII Factories Act 1948,TEST PAPERS,EXECUTIVE PROGRAMME. ECONOMIC AND LABOUR LAWS,PART A ECONOMIC LAWS,INDUSTRIES DEVELOPMENT AND REGULATION. Learning Objectives 1,Introduction 1,Industrial Policy Resolution 1948 2. Industrial Policy Resolution 1956 2,New Industrial Policy 1991 3.
The Industries Development and Regulation Act 1951 4. Definitions 6,Central Advisory Council 9,Development Council 9. Regulation of Scheduled Industries 11, Registration of existing industrial undertakings 11. Issue of Certificate of Registration 11, Circumstances when registration is not necessary 12. Penalty for failure to register 12,Power to revoke registration 12. Licensing of industrial undertakings 12,What is an industrial licence 12.
Power of the Central Government to revoke amend,licences in certain cases 14. Investigation 15, Investigation into Scheduled Industries Industrial Undertakings 15. Investigation into the affairs of a company in liquidation 16. Directions after investigation 17,Takeover of Industrial Undertakings 17. Take over after investigation 18,Effect of notified order 18. Contracts in bad faith to be cancelled or varied 19. Take over without investigation 20,Sections 18A and 18AA Comparison 21.
This Study material is the property of The Institute of Company Secretaries of India Permission. of the Council of the Institute is essential for reproduction of any portion of this study material. Notice before passing an order under Section 18AA whether. necessary 22, Take over of industrial undertaking owned by company in liquidation 24. Cancellation of the notified order 25, Preparation of inventory of assets and liabilities List of Members etc 25. Power to provide relief to certain industrial undertakings 25. Liquidation or reconstruction of companies 27, Sale of industrial undertaking as running concern 27. Reconstruction of the company owning the industrial undertaking 29. Power to control supply distribution price etc of certain Articles 31. General prohibition of taking over management or control. of industrial undertakings by State Government 32,Power to exempt in special cases 32. Constitution of Advisory Committee 32,Penalties 33.
Penalty for False Statements 34,Cognizance of Offences 34. Certain other important provisions 34, Registration and Licensing of Industrial Undertakings Rules 1952 35. LESSON ROUND UP 37,SELF TEST QUESTIONS 38,SECTION II. THE MICRO SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT 2006. Learning Objectives 39,Introduction 39,Definitions 40. National Board for Micro Small and Medium Enterprises 41. Measures for Promotion Development and Enhancement of. Competitiveness 45, Delayed Payments to Micro and Small Enterprises 46.
LESSON ROUND UP 49,SELF TEST QUESTIONS 50,FOREIGN TRADE POLICY AND PROCEDURES. Learning Objectives 51,Introduction 51, Duration and Applicability of Foreign Trade Policy 52. Transitional Arrangements 52,Special Focus Initiatives 52. Market Diversification 53,Technological Upgradation 53. Support to Status holders 53,Agriculture Sector and Village Industries 54.
Handloom Sector 54,Handicraft Sector 54,Gems Jewellery Sector 55. Leather and Footwear Sector 55,Marine Sector 56, Electronics and IT Hardware Manufacturing Industries 56. Green products and technologies 56, Incentives for Export from the North Eastern Regions 56. Board of Trade 57, General Provisions Regarding Imports and Exports 57. Interpretation of Policy 57, Application for Exemption from Policy Procedure 58.
Principles of Restriction 58,Export and Import of Restricted Goods 59. Terms and Conditions of a Licence Certificate Permission Authorisation 59. Importer Exporter Code Number IEC No 60,IEC No Exempted Categories 60. Application for Grant of IEC Number 61,Duplicate Copy of IEC No 61. Surrender of IEC No 61,Promotional Measures 61,LESSON ROUND UP 65. SELF TEST QUESTIONS 65,SECTION II,SPECIAL ECONOMIC ZONES ACT 2005.
Learning Objectives 66,Salient Features 67,Definitions 67. Establishment of Special Economic Zone 69, Establishment Approval and Authorization to Operate70. Special Economic Zone 70,Guidelines for notifying Special Economic Zone 70. The Processing and Non Processing areas 70,Exemption from taxes duties or cess 71. Constitution of Board of Approval 71, Duties powers and functions of Board of Approval 71.
Suspension of letter of approval and transfer of Special Economic. Zone in certain cases 71,Development Commissioner 72. Functions of the Development Commissioner 72,Constitution of Approval Committee 73. Powers and Functions of Approval Committee 73,Setting up of Unit 74. Cancellation of letter of approval granted to entrepreneur 74. Setting up and operation of Offshore Banking Unit 75. Setting up of International Financial Services Centre 75. Single application form return etc 75,Agency to inspect 75. Single enforcement officer or agency for notified offences 76. Investigation Inspection Search or Seizure 76, Designated Courts to try suits and notified offences 76.
Appeal to High Court 76,Offences by Companies 76, Exemptions drawbacks and concessions to every Developer. and entrepreneur 77, Application of the provisions of the Income Tax Act 1961 with certain. modifications in relation to Developers and entrepreneurs 77. Duration of goods services in Special Economic Zones 77. Transfer of ownership and removal of goods 77,Domestic clearance by Units 78. Special Economic Zone Authority 78,Functions of Authority 78. Directions by the Central Government 78,Returns and reports by the Authority 79.
Power of the Central Government to Supersede Authority 79. Reference of Dispute and Limitation 79,Person to whom a communication to be sent 80. Identity card 80, Power of the Central Government to modify provisions of the Act. or other enactments in relation to Special Economic Zones 80. Power of State Government to grant exemption 80,The Act to have overriding effect 80. Special Economic Zones to be ports airports inland container depots. land stations etc in certain cases 81,Special Economic Zones Rules 2006 81. LESSON ROUND UP 81,SELF TEST QUESTIONS 82,TRADE COMPETITION AND CONSUMER PROTECTION.
THE COMPETITION ACT 2002,Learning Objectives 83,Introduction 83. Definition of Competition 84,Competition and Economic Efficiency 85. Competition Law and Policy 86,Competition Regime in India 87. Economic Reforms and Competition 88,Competition Law Evaluation and Development 88. Background to the MRTP Act 1969 89,MRTP Amendment Act 1991 91.
Scope and Applicability of the Act 92,Competition Act 2002 98. Definitions 99,Anti Competitive Agreements 104,Prohibition of abuse of Dominant Position 108. Combinations 109,Regulation of Combinations 112,Competition Commission of India 113. Inquiry into certain agreements and dominant position of enterprise 117. Inquiry into Combination by Commission 119,Reference by a statutory authority 120.

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