This Bill is an amendment bill made on the weapons of mass destruction and their delivery systems,(prohibition of unlawful activities) act, 2005.
This Act briefly explains the activities and provisions for weapons of mass destruction and their delivery systems. It also prohibits the unlawful activities involved in such processes.
In this amendment, new sections are to be inserted under section 12 of the weapons of mass destruction and their delivery systems (prohibition of unlawful activities), 2005. Where,
Section 12A (1) states that No person can be involved in any sort of finance activity (trading activities, which is prohibited under this act or United Nations (security council) Act, 1947, or such act relevant to weapons of mass destruction and their deliveries.
Section 12 (2) states that the actions that the central government can take against such people who violate the act. The punishments for violating the act shall be following,
Freezing or seizing of funds and other financial assets (or) economic resources belonging to that person. Here, financial assets include, assets owned (or) controlled by that person, either partly (or) wholly, held on behalf of such person, gains derived from the assets owned by such person.
Further, such people will be prohibited from involving in any financial activities like trading and investing after that.
He will also be prohibited from making funds and acquiring assets after such a violation.
Under section 7 sub section 1 of the act, the central government can make actions through relevant authorities.
MAIN OBJECTIVE OF THE AMENDMENT:
In Recent times, regulations relating to proliferation of weapons of mass destruction and their delivery systems by international organizations have expanded.
Hence, the amendment was brought up as a part of India’s part in that activity by the ministry of external affairs.
WHETHER CAME IN EFFECT OR NOT:
This bill was introduced in 05/04/2022 and was passed in lok sabha on 06/04/2022.
It is yet to be passed in Rajya sabha.
ANY CASE STUDIES INVOLVED:
Since this change is brought as an administrative initiative to monitor the activities carried out in the process of delivery of weapons of mass destruction, no case studies are involved in this amendment, and it is purely created by the government voluntarily like the changes brought for union budgets and tax provisions.
This article is written by SRUTHI V of Bishop Heber college, Trichy.