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Cabinet nods to ordinance to amend Patents Act 1970

The Union Cabinet today decided to promulgate an ordinance amending provisions of the Patents Act, 1970.

The need to issue an ordinance arises as the existing Act has to be amended before April 18, 1999, the deadline set by World Trade Organisation.

The amendment in the Act will also fulfil the obligation of the WTO, an official spokesperson told reporters after the Cabinet meeting in the morning.

The ordinance is expected to be issued shortly, the spokesperson said.

The Cabinet has also decided to re-promogulate three ordinances, which are likely to lapse in the second week of this month. These ordinances relate to the Companies Act, CVC (chief vigilance commissioner) Act and Prasar Bharati Act.

The spokesperson said the government will ensure that all these ordinances would be approved by Parliament in the budget session.

Explaining the reasons for issuing an ordinance, official sources said the government had brought the related bill in Parliament during the just-concluded session. The bill was not passed as it could not be taken up for discussion in the Lok Sabha. The Rajya Sabha has passed the controversial patents bill, after accepting Congress demands for certain amendements.

The bill provides exclusive marketing rights as well as allow opening of mailbox facility.

Three ordinances, which will be re-promulgated, were pending at various stages of discussion in the form of related bills.

The Companies Act amendment bill, which has already been introduced in the Lok Sabha, is yet to come up for discussion. The bill provides for buyback of shares among other measures to boost the sagging capital market.

UNI

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