LAW MINISTRY CLEARS RULES FOR VINTAGE CARSRecently, the Ministry of Road Transport and Highways has come up with new norms and regulations for vintage vehicles.Genesis
In November 2020, the Ministry of Road Transport and Highways released a draft notification for public comments and objections on a proposed vintage vehicles policy.
It sought to bring in a strict regime of regulation, like setting up committees of state- and Union Territory-level officers to decide what is vintage and what is not.
It also proposed far-reaching restrictions on use.
NEW VINTAGE VEHICLES POLICYDefinition of Vintage Vehicles
All two- and four-wheelers that are 50+ years old and have been maintained in their original form will be defined as vintage motor vehicles.
It will not be driven for regular and commercial purposes and will have to get a special registration.
Key Provisions
The new registration rules for vintage vehicles say vehicles that are already registered can retain their original Registration Mark and fresh registrations will take place under a unique VA series.
The application for registration or re-registration shall be made as per Form 20 and shall be accompanied by an insurance policy, fee, bill of entry in case of imported vehicles, and an old RC in case of an already registered vehicle in India.
The state registering authority shall issue a certificate of registration as per Form 23A, within 60 days.
The new registration rules say vehicles that are already registered can retain their original Registration Mark.
Importance of New Vintage Vehicles Policy
The new rules shall provide a hassle-free process along with salient features such as retention of old numbers for already registered vehicles and a VA series for fresh registrations.
It relieved the owners as now they can keep their old vehicles which will definitely give life to the classic car and save the emotional sentiments attached to them.
The vintage vehicles are insulated from the scrappage policy.
If a vehicle is more than 15 years old but within 50 years, the owner can continue to keep it by passing fitness tests every five years.
GOVT AMENDS IBBI REGULATIONS, 2016Recently, the Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2016.Amendments
A corporate debtor (CD) may have changed its name or registered office address prior to commencement of insolvency.
The amendment requires an insolvency professional (IP) conducting CIRP to disclose all former names and registered office address(es)so changed in the two years preceding the commencement of insolvency along with the current name and registered office address of the CD.
The interim resolution professional (IRP) or resolution professional (RP) may appoint any professional, including registered valuers, to assist him in discharge of his duties in conduct of the CIRP.
The amendment provides that the IRP/RP may appoint a professional, other than registered valuers, if he is of the opinion that the services of such professional are required and such services are not available with the CD.
The RP is duty bound to find out if a CD has been subject to avoidance transactions, namely, preferential transactions, undervalued transactions, extortionate credit transactions, fraudulent trading and wrongful trading, and file applications with the Adjudicating Authority seeking appropriate relief.
The amendment requires the RP to file Form CIRP 8 on the electronic platform of the Board, intimating details of his opinion and determination in respect of avoidance transactions.
Insolvency and Bankruptcy Board of India (IBBI)
It was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code).
It is a key pillar of the ecosystem responsible for implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals.
It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities and Information Utilities.
It writes and enforces rules for processes, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code.
It has been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.
Powers and Functions of Insolvency and Bankruptcy Board of India (IBBI)
Register insolvency professional agencies, insolvency professionals and information utilities and renew, withdraw, suspend or cancel such registrations.
Specify the minimum eligibility requirements for registration of insolvency professional agencies, insolvency professionals and information utilities.
Specify by regulations standards for the functioning of insolvency professional agencies, insolvency professionals and information utilities.
Lay down by regulations the minimum curriculum for the examination of the insolvency professionals for their enrollment as members of the insolvency professional agencies.
Monitor the performance of insolvency professional agencies, insolvency professionals and information utilities and pass any directions as may be required for compliance of the provisions of this Code and the regulations issued hereunder.
Publish such information, data, research studies and other information as may be specified by regulations.
DRDO CONDUCTS BACK-TO-BACK SUCCESSFUL TESTS OF AKASH-NGRecently, the Defence Research & Development Organisation (DRDO) has successfully flight-tested the Akash-NG Missile.Akash-NG Missile
It is a New Generation surface-to-air Missile.
It has been developed by Defence Research & Development Laboratory (DRDL), Hyderabad in collaboration with other DRDO laboratories.
The new version of the Akash missile (Akash-NG) can strike targets at a distance of around 60 km and fly at a speed of up to Mach 2.5.
It detects enemy fighters at ranges out to 80 km.
It has been brought down from the legacy Akash’s weight of 700 kg to a sleek 350 kg which allows the Akash NG launchers to carry more than the three missiles.
It is aimed at intercepting high maneuvering low RCS (Radar Cross Section) aerial threats.
It will prove to be a force multiplier for the air defence capability of the Indian Air Force.
It is engineered to shoot down high-performing fighter aircraft.
The new version has a two-pulse, solid rocket motor instead of the old ramjet that powered the legacy Akash missile.
BIRD FLU DEATH AT AIIMSRecently, an 11-year-old boy died of H5N1 avian influenza in Delhi which is the first recorded death due to the bird flu in India in 2021.H5N1 Avian Influenza?
Bird flu or avian influenza is a disease caused by avian influenza Type A viruses found naturally in wild birds worldwide.
The virus can infect domestic poultry including chickens, ducks and turkeys.
Avian Influenza type A viruses are classified based on two proteins on their surfaces i.e. Hemagglutinin (HA) and Neuraminidase (NA).
Bird Flu Infection in Humans
There have been reports of avian and swine influenza infections in humans including A(H1N1), A(H1N2), A(H5N1), A(H7N9), etc.
The first report of human H5N1 infection was in 1997 and currently, over 700 human cases of Asian Highly Pathogenic Asian Avian Influenza A (HPAI) H5N1 virus have been reported.
The most common route of virus transmission is direct contact i.e. when a person comes in close contact with infected birds, either dead or alive.
Humans can also be affected if they come in contact with contaminated surfaces or air near the infected poultry.
There is no sufficient evidence suggesting the spread of the virus through properly cooked meat.
Symptoms of avian influenza
According to US CDC, the reported signs and symptoms of avian influenza A virus infections in humans have ranged from mild to severe influenza-like illness.
Definition of Vintage Vehicles
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