“Gujarat International Finance Tec-City (GIFT City) is emerging as a crucial global finance hub, attracting various financial and technology firms with its unique blend of regulatory advantages, tax...
The Aircraft (Amendment) Act, 20201 (the “Amendment”) was passed by the Lok Sabha on March 17, 2020, by the Rajya Sabha on September 15, 2020, and received presidential assent on September 19, 2020, thereby, according to it the status of enforceable law. The genesis of this Amendment lies in the audit conducted in the years 2012 and 2015 by the International Civil Aviation Organisation (“ICAO”) which indicated the need to give proper recognition to 3 (three) existing regulatory bodies which operate under the Ministry of Civil Aviation as statutory authorities under the Act, to enhance the quantum of penalties, to empower officers to levy greater fines for violations of the Aircraft Act, 1934 (“Act”) and to also include certain areas of air navigation services or rulemaking purpose under section 5 of the Act. INDUSLAW’s Devya Sharma, Shivani Kapur Jeet, and Vidit Mehra discuss.
