It is common knowledge that individuals contesting elections have to file an affidavit, declaring (i) their criminal records (if any), (ii) assets & liabilities and (iii) educational qualification. What is not widely known is that after getting elected, Members of Parliament are required to file a declaration of assets and liabilities with the Speaker of Lok Sabha and the Chairman of Rajya Sabha. The rules to this effect were made in 2004 under the Representation of Peoples Act , 1951. These declarations have to be made by MPs within 90 days of taking their seat in Parliament. Rules for Lok Sabha MPs an be found hereand those for Rajya Sabha MPs can be found here. The Rajya Sabha rules specify that the declarations made by MPs shall be made availaible to any person with the written permission of the Chairman. The rules also specify that Rajya Sabha MPs are required to update their declarations every year. The Lok Sabha rules specify that the declarations made by the Lok Sabha MPs shall be treated as confidential and shall not be made available to any person without the written permission of the Speaker. The rules also do not contain an express provision for the declaration made by the MPs to be updated in case there is a change in the status of their assets and liabilities. Such rules under the Representation of Peoples Act currently do not exist for MLAs in States.
The Insolvency and Bankruptcy Code, 2015 was introduced in Lok Sabha yesterday, as a Money
Bill [Clarification: This is as per news reports.* The text of the Bill does not indicate that it is a Money Bill]. In this context, we briefly outline the various types of Bills in Parliament, and highlight the key differences between Money Bills and Financial Bills. What are the different types of Bills? There are four types of Bills, namely (i) Constitution Amendment Bills; (ii) Money Bills; (iii) Financial Bills; and (iv) Ordinary Bills. What are the features of each of these Bills?
of India. Bills that only contain provisions that are incidental to these matters would also be regarded as Money Bills.[iii]How are these bills passed?
How is a Money Bill different from a financial bill? While all Money Bills are Financial Bills, all Financial Bills are not Money Bills. For example, the Finance Bill which only contains provisions related to tax proposals would be a Money Bill. However, a Bill that contains some provisions related to taxation or expenditure, but also covers other matters would be considered as a Financial Bill. The Compensatory Afforestation Fund Bill, 2015, which establishes funds under the Public Account of India and states, was introduced as a Financial Bill.[vii] Secondly, as highlighted above, the procedure for the passage of the two bills varies significantly. The Rajya Sabha has no power to reject or amend a Money Bill. However, a Financial Bill must be passed by both Houses of Parliament. Who decides if a Bill is a Money Bill? The Speaker certifies a Bill as a Money Bill, and the Speaker’s decision is final.[viii] Also, the Constitution states that parliamentary proceedings as well as officers responsible for the conduct of business (such as the Speaker) may not be questioned by any Court.[ix]
[i]. Article 368, Constitution of India. [ii]. Article 110, Constitution of India. [iii]. Article 110 (1), Constitution of India. [iv]. Article 117, Constitution of India. [v]. Article 107, Constitution of India. [vi]. Article 109, Constitution of India. [vii]. The Compensatory Afforestation Fund Bill, 2015, introduced in Lok Sabha on May 8, 2015, http://www.prsindia.org/billtrack/the-compensatory-afforestations-fund-bill-2015-3782/. [viii]. Article 110 (3), Constitution of India. [ix]. Article 122, Constitution of India. [*Note: See Economic Times, Financial Express, The Hindu Business Line, NDTV ,etc.]
