The Financial Sector Legislative Reform Commission has published its approach paper here. The Commission was set up to review the legal architecture for the financial sector and come up with findings and recommendations on aligning the Indian financial sector legal system with India’s current economic standing.
The Commission has invited feedback from the public as part of the process of consulting the public in making laws.
<> Thinking aloud :
In an attempt to have a first grasp or grip of what this is all really about,the most essential part of the Paper, requiring to be taken a careful note of ,
is that under the sub-title – 'Conclusion'. But then looking closely at, not the rhetoric but the substance of it, one is at a loss to know, rather left with a sad feeling of remorse,reflecting-
as to why many of the things sought to be focused on are made to appear or give a misleading impression that they are fresh ideas or concepts thought of or specially charted out by the appointed committee keeping in view the sole aim of making the law (s) or subordinated law (s) work/tick, so as to have its ultimate objectives accomplished as nearly as avowed for.
In fact, even a quick reflection of what has been happening all the time in the past ought to suffice to convince oneself that every piece of legislation or subordinated legislation, not necessarily in the realm of national economy,has more often than not met with abject or partial failure, or no success worth mentioning, because of the inherent /in-built shortcomings and deficiencies such as- 'complicity', 'multiplicity', so on- ??????
(One thinks, 'the invitees' interested in making any useful contribution in public interest, will do well by devoting some thoughts on how best the blanks left with "?" need to be filled in;
and in doing so, some of the crucially impinging aspects /facts of life brought out in the Blog – http://vswaminathan-vswaminathan-swamilook.blogspot.in/2012/01/corruption-systemic.html may hopefully be of help.