The ordinance was promulgated late last night. Issued for the first time on January 7, the Enemy Property (Amendment and Validation) Fifth Ordinance, 2016 had earlier been promulgated four times.
The Union Cabinet had on Wednesday approved re-issuing the ordinance. The ordinance was re-issued as a bill to amend the law could not be passed in Parliament due to repeated adjournments over the demonetisation issue.
"Enemy property" refers to any property belonging to, held or managed on behalf of an enemy, an enemy subject or an enemy firm.
The government has vested these properties in the Custodian of Enemy Property for India, an office instituted under the central government.
After the Indo-Pakistan War of 1965, the Enemy Property Act was enacted in 1968, which regulates such properties and lists the Custodian's powers.
It was re-promulgated for the second time on April 2 and a third time incorporating the amendments suggested by the Rajya Sabha Select Committee on May 31.
Since its validity was to expire on August 28, the President promulgated the fourth ordinance on the subject a day before that.
An ordinance is promulgated again when Parliament is not in session and a bill to replace it is not passed.
As per the proposed amendments, once an enemy property is vested in the Custodian, it shall continue to be vested in him as enemy property irrespective of whether the enemy, enemy subject or enemy firm has ceased to be an enemy due to reasons such as death.
The amendments are aimed at plugging the loopholes in the Act to ensure that the enemy properties that have been vested in the Custodian remain so and do not revert to the enemy subject or enemy firm.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
