Tag Archives: disclosure

Switzerland- Zurich Police will disclose the nationality of the crime suspect | Instant News


(MENAFN – Swissinfo) Voters in the canton of Zurich have approved the mandatory disclosure of the nationalities of suspected offenders.

This content is published March 7, 2021 – 13:27 March 7, 2021 – 13:27 swissinfo.ch/urs

Nearly 60% of voters supported the government’s proposal on Sunday according to the External authority link.

In the run-up to the vote, supporters especially from the center-right claim regular mention of citizenship will contribute to greater transparency.

However, demands from the right-wing Swiss People’s Party to include any mention of the suspect’s possible immigration background were rejected by voters. Only 52% agreed to the proposal, not achieving the required majority.

The move was prompted by a decision by the local Zurich city council four years ago to stop the automatic publication of crime suspects in police reports, arguing it was discriminatory and misleading.

Sunday’s ruling means that Zurich is only one-third of Switzerland’s 26 cantons that have enacted special laws over the past decade.

Most cantons follow a non-binding recommendation by state police commanders approved in 2010 to name suspects and victims as a rule other than their respective ages. Exceptions are allowed for privacy reasons. Information about possible immigration background should only be disclosed upon request.

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There have been growing calls from right-wing parties over the past 25 years for the disclosure of the nationalities of the suspects.

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J&K High Court Directs Courts | Instant News


Remind mandate Section 228A KUHP Ranbir J&K, that Jammu & Kashmir High Court on Thursday (24th December) directs the trial of the United Territory of Jammu & Kashmir, and Ladakh Court “to avoid disclosing the identity of victims of rape in their process and judgment. “

Next, Benches Acting Chief Justice Rajesh Bindal & Judge Sanjay Dhar provides direction to all health professionals in the Jammu & Kashmir Union Territory, and the Ladakh Union Territory to firmly stop doing the ‘two-finger test’ known as the ‘vaginal exam’ on rape victims.

The problem is before the Court

The State requests permission to appeal the verdict dated 29.11.2017 which was passed by the Main Session Judge, Bhaderwah File No. 07 / Challan Session entitled Negara v. Mohd. Imran Khan, where the defendant was acquitted of infringement under Section 376 of the RPC.

The adviser to the applicant state argued that the prosecutrix, in the instant case, was minor at the time of the incident and he had recorded in his statement before the Court fully supported the prosecution case.

According to the lawyer, the trial court distrust prosecutrix statements on technical matters and for weak reasons.

Keeping in mind the contradictions raised by the learned AAG, The Court found that a prima facie case for granting leave to appeal had been filed.

Hence, this application was permitted and permission to appeal the alleged verdict was granted.

Court Observation

Prior to parting with the order, the Court noted that the Court Judge had mentioned the prosecutrix by name at several places in the verdict.

The court said,

Section 228A of the IPC prohibits disclosure of the identity of victims of certain offenses, which include offenses under Section 376 of the IPC. In the pari materia of the aforementioned provisions are Article 228A of the J&K Ranbir KUHP, which applies to the case at hand at the relevant time.. “

The court also relies on the Court of Appeal’s decision in cases State of Punjab v. Gurmeet Singh, (1996) 2 SCC 384, Bhupinder Sharma v. Himachal Pardesh State (2003) 8 SCC 551 & Nipun Saxena v. Union of India and others (2019) 2 SCC 703 and concludes that All Courts are bound to avoid disclosing the names of victims of rape in court proceedings and in their judgments.

The court also said,

In fact, the prohibition is contained in Article 228A probably not applies strictly to Court decisions, however Courts should avoid disclosing the prosecutrix’s name in their orders and decisions, in order to avoid embarrassment and humiliation for the victim of rape.. ”

What matters, the Court said,

Rape is not only physical assault but also defects the victim’s personality. Therefore, Courts must act responsibly and with sensitivity when handling rape cases, particularly in relation to prosecution. “

It further notes that in the instant case, the prosecutrix, who was a minor at the relevant time, was subjected to a two-finger test and “who must have violated his privacy, physical and mental integrity, and dignity“, The Court, citing the decision of the Apex Court in the case Lillu and others v. State of Haryana, (2013) 14 SCC 643, said,

The two-finger test and its interpretation violates the rights of rape victims to privacy, physical and mental integrity, and dignity. Thus, the “two-finger test” has been declared unconstitutional. “

The court also noted that the “two finger test”, has been strictly prohibited under guidelines and protocols issued by the Ministry of Health and Family Welfare, Government of India.

What matters, the Court said,

It is the current need to impose a ‘two-finger test’ ban on victims of rape with full force and in this case a directive is needed to be extended to all health professionals in the United Territory of Jammu and Kashmir, and Ladakh., so that the Supreme Court decision and guidelines and protocols are issued by the Ministry of Health and Family Welfare, Government. from India, about this matter is taken seriously. “

Lastly, the Court directs all Courts in the Union Territory of Jammu & Kashmir, and Ladakh to avoid disclosing the identity of the victim of rape in their process and judgment.

Further directives were issued for all health professionals in the Jammu & Kashmir Union Territory, and the Ladakh Union Territory to firmly stop doing the “two-finger test” known as the “vaginal exam” on rape victims.

Case title – J&C v. Status Mohd. Imran Khan

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Air New Zealand criticized and ordered to pay $ 40,000 for violating NZX rules | Instant News


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Air New Zealand chief executive Greg Foran released details of the 800-day plan on June 5. Photo / Michael Craig

Cash-strapped Air New Zealand had to pay $ 40,000 for a “ serious ” breach of NZX rules that included disclosing material information.

The NZ Market Discipline Court has found airlines earlier this year did not release market sensitive information when it became aware of it and published the information before notifying NZX.

In its decision, the court detailed information released about the impact of Covid-19 on airlines towards the afternoon of 5 June when Air NZ chief executive Greg Foran informed staff, Airpoints members and “ selected media ” about the three phases. plan for the next 800 days.

The three phases are labeled Survive, Revive, and Thrive, as previously reported by the Herald. One of the key aspects of the Survive phase is Air New Zealand’s plans to reduce labor costs (in addition to the estimated $ 150 million announced on May 26, including implementing reduced hours of work, unpaid leave, job sharing, voluntary exit, and possible termination. work.

This release was not announced via the NZX market announcement platform (MAP).

Instead, it was released sequentially to staff, to select media outlets, and to New Zealand-based Airpoints members between 12:46 p.m. and 3:26 p.m. on the afternoon of June 5.

After being contacted by NZX, an announcement materially similar to Foran’s message was released via MAP at 8.30am on Monday, June 8th.

NZX launched an investigation into whether the release of the CEO’s message mattered.

After investigations, NZX concluded that the labor cost reduction target mentioned in the message was material information, so the airline had breached its obligations by not releasing it immediately and by releasing this information through means other than MAP.

The court noted that airlines have frequently provided market updates regarding the impact of the pandemic on its business and operations.

“ The violation occurred in the context of the unique and tremendous pressure on businesses due to the Covid-19 pandemic. The uncertainty around the duration, scale and impact of the pandemic, and the swift changes required to respond to the Government’s evolving measures, is having a very significant impact on the aviation industry. ”

The airlines accept that they have breached their obligations.

The court ruling said the offense related to continuing disclosure was a violation of a fundamental obligation.

“ Compliance with the Rules by this Issuer is very important in maintaining market integrity and investor confidence. ”

The plane is parked at Auckland Airport.  NZX courts accept the uncertainty surrounding Covid.  Photo / Brett Phibbs
The plane is parked at Auckland Airport. NZX courts accept the uncertainty surrounding Covid. Photo / Brett Phibbs

The breach was serious and could result in a $ 500,000 fine.

The court considered that there were aggravating factors in this case:

• Air New Zealand did not comply with its own continuous disclosure policy when it concluded the June 5 communication, nor did it refer the communication to its disclosure committee. NZX considers that if internal policies are followed, these violations will be prevented.
• NZX has published specific guidance with respect to disclosures regarding the COVID-19 pandemic not long before the breach occurred, so AIR is aware of the potential materiality of the labor cost reduction operating cost decision. Furthermore, AIR has released previous updates via MAP to reduce labor costs.
• NZX informed that 2,520 AIR stock trades took place on the afternoon of 5 June 2020 while there was information asymmetry in the market. Airline share prices rose significantly on June 8, although NZX assessed that the pattern of the surge in prices in the global aviation industry from June 5 to June 8 contributed, in part, to this move.

Mitigating factors include:

• Air NZ itself does not benefit financially from the breach.
• Once a problem is identified, it is resolved immediately. Total duration of information asymmetry is short (4 hours 44 minutes).
• NZX considers that there is no evidence of financial gain or financial loss due to asymmetric trading on the afternoon of 5 June.
• The violations appear to be unintentional, even though the airline does not follow its own continuous disclosure policy.

The court has considered in its decision to agree to a settlement that the violations occurred during a period of significant uncertainty, especially for those in the aviation industry, arising from the Covid-19 pandemic. ”

Taking into account both aggravating and mitigating factors, the court considered that while the offense warranted a sentence at the lower end of the available range, along with public condemnation.

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SBP said it is committed to transparency in disclosure | Instant News


KARACHI: The State Bank of Pakistan (SBP) maintains the highest level of transparency in disclosure and complete independence in its views on the state of the economy, he said on Saturday.

The disclosures have public confidence and the reports are considered authentic and credible, the SBP said in a rebuttal to comments published in The News on November 20.

“The State Bank of Pakistan strongly condemns the views expressed by commentators,” SBP said in a statement.

SBP rejected the accusation against the SBP governor that he distorted the facts to paint a bright economic picture.

“These allegations are false, baseless and an attempt to make the governor’s position controversial,” he said. “The disdain for the governor undermines the position of the head of the country’s main and independent institutions in the minds of innocent newspaper readers, with negative consequences that have potentially far-reaching consequences for confidence in the central bank.”

The SBP also rejected criticism about the progress made by the economy during the pre-COVID-19 pandemic period.

“The author is of the opinion that the economic recovery in the period before COVID-19 was not right and the budget deficit was out of control,” he said.

“In fact, the fiscal deficit for the July-March FY20 period was only 3.8 percent of GDP which shows a tremendous increase compared to the fiscal deficit of 5 percent during the July-March FY19.”

The SBP further said that the primary balance during the same period had a surplus of 0.4 percent of GDP, for the first time since FY16. Likewise, the statement regarding the 625 basis point reduction in the policy rate during COVID-19 that has been widely admired by all stakeholders, especially business, and its unwarranted comparisons with other countries reflects this ignorance. “

The State Bank said it had provided a detailed analysis of developments during FY2020 in its latest annual report on the state of the Pakistani economy, “which makes it quite clear about what happened in the period before and after COVID-19”.

“According to the report, after difficult but necessary stabilization efforts during the first nine months of the fiscal year, the Pakistani economy is on a steady recovery path on the eve of the Covid-19 pandemic,” he said.

“In February 2020, the unprecedented balance of payments crisis caused by unsustainable macroeconomic policies in previous years has been forcibly dealt with through sizable reductions in the current account deficit and the twin fiscal. After a series of monetary tightening during FY19, core inflation remained relatively stable, despite the increase in general inflation due to seasonal and one-time factors. In turn, this hard-earned stabilization is starting to lead to a revival of economic activity and a restoration of business and consumer confidence. “

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FBR queues up incentives for retailers on disclosure | Instant News


KARACHI: The Federal Revenue Board (FBR) on Wednesday introduced a large tax incentive for large retailers, which digitally integrated their trade transactions with the real-time point of sale sales system of the tax authority.

Input tax adjustments – adjusted for output taxes – are now permitted for retailers who link their sales / purchases to the FBR system, known as a point-of-sale (POS) application. Sources at the Regional Tax Office-II, Karachi said the latest grant from input adjustment incentives for level-1 retailers was aimed at encouraging retailers to disclose their transactions in real-time.

Registration and integration are mandatory for first-level retailers. Previously, FBR binded the retailer to integrate POS into their computers on December 15, 2019. To give retailers the opportunity to integrate, FBR extended the last date to March 31, 2020. The deadline was extended to April 30, 2020 as a lockup because the coronavirus outbreak had a negative impact. on economic activity.

Sources say April remains locked and therefore the date may be extended.

According to the Sales Tax Act, 1990, all retailers in the tier-1 category are required to integrate their outlets with the FBR online system to monitor sales and purchases.

Tier-1 retailers include those operating as units of national or international chain of stores, in shopping centers, plazas or air-conditioned centers, excluding kiosks, whose cumulative electricity bills for the previous 12 months successively exceed Rs1,2 million or they involved in bulk import and wholesale supply of consumer goods to retailers and consumers. In addition, retailers are also categorized as level-1 if the store is 1,000 feet or more in size.

The FBR issues a statutory order (SRO 344 (I) / 2020) to allow input tax adjustments for all Tier-I retailers integrated with FBR.

The FBR said tier-I retailers might adjust input taxes to 95 percent of output taxes. Under section (8B of the Sales Tax Act, 1990), a registered individual is not allowed to adjust the input tax of more than 90 percent of the output tax. However, the law empowers FBR to expand input tax adjustment facilities to 100 percent to economic sectors through notification. In October last year, the FBR allowed the adjustment of inputs and refunds to the electricity sector, oil marketing companies and refineries, fertilizer factories and suppliers without ranking, including exports, provided the value of the inventory exceeds 50 percent of the value of all taxable inventories in the tax period . Furthermore, sectors, including distributors, gas distribution companies, telecommunications services, Pakistan Steel Mills and Bin Qasim have also been allowed to adjust inputs 100 percent.

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