Atomic Energy (Amendment) Bill, 2015 introduced in Lok Sabha
It expands the definition of paid-up share capital in parent Act to include joint ventures (JV) of public sector undertakings (PSUs).
Union Government on 7 December 2015 introduced Atomic Energy (Amendment) Bill, 2015 in the Lok Sabha to facilitate and fast track setting up of new nuclear projects in the country. The Bill seeks to amend the Atomic Energy Act, 1962.
The Atomic Energy Act, 1962 empowers the Union government to produce, develop, control, and use atomic energy.
Provisions of the Bill
It expands the definition of paid-up share capital in parent Act to include joint ventures (JV) of public sector undertakings (PSUs). The whole of the paid up share capital would be held by one or more PSUs and empowers the Union government to constitute its Board of Directors for such JV.
It proposes to make a consequential amendment in Section 14 of the Atomic Energy Act, 1962 to enable the Central Government to issue licence to such joint-venture companies to set up nuclear power plants, take measures for safe operation and ensure safe disposal of nuclear material.
It states that any license, granted for matters such as (i) producing atomic energy and (ii) acquiring and using substances or minerals from which atomic energy can be obtained etc., will be cancelled if a licensee ceases to be a government company.
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