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Parliament Monsoon session: Here are the key bills to be tabled in Lok Sabha today

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In today's Monsoon session of Parliament major bills will be taken up by the Upper and Lower house.

Parliament Monsoon session: Here are the key bills to be tabled in Lok Sabha today
Lok Sabha is set to take up three key bills on Friday, a day after the lower house passed two bills relating to the agriculture sector, including the one which seek to promote barrier-free inter-state and intra-state trade in agricultural produce, amidst protests by the ruling NDA constituent Shiromani Akali Dal and the Opposition.
Earlier, Parliament on Friday passed a bill to reduce for one year the salaries of MPs by 30 per cent "to meet the exigencies arising out of COVID-19 pandemic". Rajya Sabha passed the Salary, Allowances and Pension of Members of Parliament (Amendment) Bill, 2020. It had got the approval of Lok Sabha on Tuesday.
The bill was introduced in the upper house by Parliamentary Affairs Pralhad Joshi on Thursday.
The upper house also passed the Salaries and Allowances of Ministers (Amendment) Bill, 2020, which proposes to reduce the salaries and allowances of ministers by 30 per cent for a year, to meet the exigencies arising out of the COVID-19 pandemic.
Minister of State for Home, G Kishan Reddy moved the bill. Both the bills were taken up simultaneously and passed by voice vote.
Here is a look at the key bills that will be tabled during the business hours in the Lok Sabha on Friday:
Companies(Amendment) Bill, 2020: This Bill proposes to further amend the Companies’ Act of 2013 under the Ministry of Finance.
Alterations have been made in the substantive provisions of the law such as overseas listing of entities, relaxation to certain entities currently qualifying as listed entities because of debt-listing, exemption from beneficial ownership declaration under section 89, setting up benches of National Company Law Appellate Tribunal (NCLAT) and many more.
Bilateral Netting of Qualified Financial Contracts Bill, 2020: This bill introduced by Nirmala Sitharaman in the Lok Sabha today, seeks to provide a legal framework for bilateral netting of qualified financial contracts which are over the counter derivatives contracts.
The Bill allows for the enforcement of netting for qualified financial contracts. It further provides that netting of (Qualified financial contracts) QFCs is enforceable if the contract has a netting agreement. A netting agreement may also include a collateral arrangement. Also, as per the bill, the Central government can, by notification, amend the list of authorities and Acts which regulate entities that are party to a QFC.
Factoring Regulation (Amendment) Bill, 2020: This Bill seeks to amend the Factoring Regulation Act of 2011 to widen the scope of entities that can engage in factoring business.
The Bill amends the definition of receivables to mean any money owed by a debtor to the assignor for toll or for the use of any facility or services. There are also changes in the definition of assignment and factoring businesses. Also, it removes this threshold for non-banking financial company (NBFC) to engage in factoring business.
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