CLAT (Common Law Admission Test) Legal-Aptitude Acts Revision (Page 6 of 12)

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The Electricity Act, 2003

The Electricity Act, 2003 is a revolutionary piece of law relating to the power sector in India dealing with its production, distribution and its transmission along with trading. The main characteristics of law are:

  • No license is required to generate power.
  • No person can tra

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The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA)

The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) was enacted with an objective to improve India’s economy, reduce its fiscal deficit and manage and distribute funds in a balanced manner.

The main objective with which law was enacted was to reduce fiscal defi

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The Gold Control Act, 1962

The Gold Control Act, 1962 was enacted as a result of loss of foreign exchange reserves by India after Indo-China War in 1962. This law prohibited citizens to hold pure gold bars and coins. Only licensed dealers were allowed to hold them. All the previously hold jewellery was

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The Hindu Succession Act, 1956

The Hindu Succession Act, 1956, law gives and amends rights regarding succession of property of unwilled one. It states that both the daughters and sons have equal rights to the property of deceased persons. The daughter has full right to use her part of property and dispose it

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The Income-tax Act, 1961

The Income-tax Act, 1961 is the most complex law in India. It delas with levying, managing and collecting revenue of taxes from people. This law is strongly criticized and has lost its original form due to repetitive amendments almost every year. However, now the Government has

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