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posted 1 year ago
By Ranjan Narula and Chandan Kumar
After being cleared by both houses of Parliament, the Jan Vishwas (Amendment of Provisions) Bill, 2023 (JVB) received presidential assent on 11th August 2023 and thus became the law. Several provisions in different Acts have been decriminalised through this bill by removing imprisonment provisions and monetary penalties rationalised.
The post discusses the changes made by JVB in the Patents Act, 1970 to remove imprisonment and instead enhance fines for not furnishing the statement of working or providing incorrect information or minor, technical, or procedural defaults while filing the working statement. The bill balances the severity of the offence/violation committed and the gravity of the prescribed punishment.
In this post, we examine the impact of JVB amendments on the Patent Act regarding the working statement required to be filed under Section 146 (2) and Rule 131(1) of the Indian Patent Act. Every year the Patent holders are required to file, for granted, Patents, the statement of working for the previous financial year within six months from the start of the next financial year. The statement must state whether the Patent has been worked or not in India and provide reasons in support, if required.
The above-noted changes have clearly sought to remove penal provisions from the Patent Act which have long been cause of concern for the companies. The amendments would go a long way in restoring confidence in the business community and a landmark development in the journey of rationalizing laws, eliminating barriers, and trust-based governance.
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