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PDF Law and Economics - Compress
PDF Law and Economics - Compress
CIEKA FTKCV
Kssi
Kssist
stke
kett Prbc
Prbchs
hssb
sbrr (A
(Akw
kw)) He
Herb
rbaa
aanh
nhet
et eb < ;8
;80;
0;0;
0;0;
0;8
8
;
VKDAH BC OBEVHEV_
;) IEVTBFXOVIBE.....................................................................................................................6
]JHTH OKE DXYHT_ MHV IECBTNKVIBE KDBXV VJH KXOVIBE_2 JB] OKE
YBX DIF2...................................................................................................................................8
;. EPK
EPK OAK_
OAK__I
_ICI
CIOK
OKVI
VIBE
BE & _HVV
_HVVAH
AHNH
NHEV
EV BC I__XH
I__XH_
_ KV KE HKTA
HKTAY
Y _VKM
_VKMH
H
IV_HAC.........................................................................................................................................:
4. PB]HT_
PB]HT_ BC FTV...........
FTV..................
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6. JIMJ OBXTV’_
OBXTV’_ LXTI_FI
LXTI_FIOVIBE
OVIBE IE K PTBOHHFIEM...
PTBOHHFIEM..........
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8. OISIA OBXTV’_
OBXTV’_ LXTI_FIOV
LXTI_FIOVIBE<..
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?) OBEOAX_IBE........................................................................................................................;9
6) DIDAIBMTKPJY....................................................................................................................4;
4
KOGEB]AHFMHNHEV
I kn nbst
nbst prbcbu
prbcbuefa
efay
y mrkthc
mrkthcua
ua tb ny thkojh
thkojhrr Fr. Knkefhhp
Knkefhhp _iemj
_iemj cbr prbvifie
prbvifiem
m nh tji
tjiss
wbefhrcua bppbrtueity tb wbrg upbe tjis prblhot kcthr fbiem wjioj wh chha tb jkvh heaimjthehf
burshavhs ie tjis rhmkrf kef cbr jhr prhoibus tinh sjh sphet muifiem us cbr tjh obnpahtibe bc tjis
prblhot.
I kasb tjkeg tjh nhndhrs bc tjh aidrkry stkcc cbr tjhir obbphrktibe ie nkgiem kvkiakdah tjh dbbgs
kef nkmkziehs kef kaabwiem us tb koohss tjh iethreht hvhe furiem tjhir crhh tinh kef wjhehvhr
wh rhquirhf tb fb sb.
Akst dut ebt tjh ahkst I wbuaf kasb aigh tb tjkeg ny crihefs. It wks beay dhokush bc tjhir hxohaahet
- Keojka _
_iiemj
?
IEVTBFXOVIBE
Iethrhst Kot, 4004 kaabws dkegs kef ciekeoika iestitutibes tb kuotibe prbphrtihs (rhsifhetika kef
obnnhroika) wjhe dbrrbwhrs ckia tb rhpky tjhir abkes. It hekdahs dkegs tb rhfuoh tjhir ebe-
phrcbrniem ksshts (EPKs) dy kfbptiem nhksurhs cbr rhobvhry br rhobestruotibe. Vjh cirst kssht
rhobestruotibe obnpkey (KTO) bc Iefik, KTOIA, wks sht up uefhr tjis kot.
cbr tjh dkeg. K ‑ebe-phrcbrniem kssht„ wks fhciehf ks k orhfit ckoiaity ie rhsphot bc wjioj tjh
iethrhst kef/br iestkaanhet bc Prieoipka jks rhnkiehf ‑pkst fuh„ cbr k sphoicio phribf bc tinh. Vjh
hecbro
hecbrohnh
hnhet
et bc shourity iethrhst
iethrhst uefhr shotibe ;? bc _KTCKH_I Kot, 4004. Ic dbrrbwhr bc
ciekeoika kssistkeoh nkghs key fhckuat ie rhpkynhet bc abke br key iestkaanhet kef jis koobuet is
oakssicihf
oakssicihf ks Ebe-Phrcbrniem Kssht dy tjh shourhf orhfitbr, tjhe shourhf orhfitbr nky rhquirh
cuaa witjie 30 fkys dy oahkray stktiem knbuet fuh kef iethetibe cbr hecbrohnhet. ]jhrh jh fbhs
ebt fisojkrmh fuhs ie cuaa witjie 30 fkys, VJHE ]IVJBXV IEVHTSHEVIBE BC KEY
OBXTV
OBXTV BT VTIDXE
VTIDXEKA7
KA7 tjh _hourhf
_hourhf orhfit
orhfitbr
br nky tkgh
tkgh pbsshs
pbsshssib
sibe
e (i
(ieoa
eoaufi
ufiem
em skah,
skah, ahk
ahksh,
sh,
6
nkekmhr cbr shourhf kssht br witjbut tkgiem key bc tjhsh kotibe nky kasb prbohhf kmkiest
kaabwhf tb tkgh pbsshssibe bc tjh obaakthrka prbphrty kef shaa it witjbut tjh phrnissibe bc k oburt.
;
Ie Nkrfik Ojhniokas
Ojhniokas Atf. v. IOIOI Dkeg , be : Kpria 4006, tjh _uprhnh Oburt bc Iefik fhoakrhf
IOIOI Iefik fhoakrhf
tjh _KTCKH_I Kot tb dh obestitutibekaay vkaif. Vjh Oburt skif tjkt k dbrrbwhr nky kpphka
kmkiest tjh ahefhr ie tjh fhdt rhobvhry tridueka, witjbut jkviem tb fhpbsit =8% bc tjh knbuet bc
tjh fhdt. Ic tjh tridueka fbhs ebt stky tjh brfhr, tjh ahefhr nky shaa tjh ksshts.
It fhphefs be tjh nkrght vkauh bc tjh prbphrty. Prbchssibeka vkauhrs fhthrnieh tjh prbphrty vkauh
dkshf be wjioj dkegs cix k rhshrvh br nieinun dif prioh. Vjh vkauktibes thef tb dh be tjh
obeshrvktivh sifh ks it is k fistrhss skah. Ic tjh prioh chtojhf hxohhfs tjh dkeg’s fuhs, tjh hxohss
]JHTH OKE DXYHT_ MHV IECBTNKVIBE KDBXV VJH KXOVIBE_2 JB] OKE
YBX DIF2
Dkegs kfvhrtish suoj skahs ie kt ahkst beh Hemaisj kef beh rhmibeka ehwspkphr, ?0 fkys pribr tb
tjh kuotibe. Iethrhsthf diffhrs nust sudnit tjhir difs ie k shkahf hevhabph tb tjh dkeg. Kabem
witj tjh dif, tjhy nust kasb fhpbsit k ohrtkie phrohetkmh bc tjh rhshrvh prioh ks hkrehst nbehy
;
(4006) 6 _OO ?;;.
8
fhpbsit. Vjis knbuet ficchrs korbss dkegs kef is rhcuefkdah ic beh witjfrkws crbn tjh prbohss br
fbhs ebt wie. Be tjh kuotibe fky, tjh shkahf hevhabphs krh bphehf ie crbet bc tjh diffhrs kef tjh
jimjhst dif is keebueohf. Diffhrs nky br nky ebt mht kebtjhr ojkeoh tb rhvish tjhir difs. Ic ybu
wie, ybu jkvh tb pky up tb 48 phr ohet bc ybur dif knbuet tb obecirn tjh purojksh. Vjh dkeg
nky kaabw ybu tb pky tjh rhnkieiem ie ;0-;8 fkys. Ybu oke kppay cbr k abke cbr tjh sknh.
Vypiokaay, tjhsh prbphrtihs krh 40-?0 phr ohet ojhkphr tjke tjh nkrght prioh. Kasb, sieoh tjh dkeg
jkf prhvib
prhvibusa
usay
y ahet
ahet kmkies
kmkiestt tjh prbphr
prbphrty,
ty, tjhrh
tjhrh is oakrit
oakrity
y be prbphr
prbphrty
ty ti
titah
tah.. Jbwhvh
Jbwhvhr,
r, tjhsh
tjhsh
prbphrtihs krh sbaf be ke ‚ks-is’ dksis. Vjhrh nky dh phefiem fuhs br hvhe aitimktibes. Vjhsh
It is kawk
kawkys
ys whao
whaobn
bnhh tb he
hekda
kdahh tjh
tjh Dkegs
Dkegs tb rh
rhob
obvhr
vhr tj
tjhi
hirr fuhs
fuhs us
usie
iem
m tj
tjhh pr
prbv
bvis
isib
ibes
es bc
_KTCKH_I Kot, 4004. It is gebwe tjkt it is vhry ficciouat cbr tjh Dkegs tb kpprbkoj Oivia Oburt
ksgiem cbr k fhorhh kef mhttiem tjkt fhorhh hxhouthf. ]itj tjh iethetibe bc hekdaiem tjh Dkegs tb
rhfuoh tjhir EPKs tjrbumj cksthr rhobvhry bc fuhs, ‚Vjh Thobvhry bc Fhdts Fuh tb Dkegs kef
Ciekeoika Iestitutibes Kot, ;99?’ wks hekothf. Fhspith obestitutiem ‚Fhdt Thobvhry Vriduekas’
uefhr tjh TFFDI Kot, ;99? kef prbvifiem sphoika prbohfurh tb dh cbaabwhf dhcbrh tjh Vridueka,
Dkegs obuaf ebt rhfuoh tjhir EPKs ks hxphothf kef it jks ahf tjh ahmisakturh tb hekot ‚Vjh
_houritizktibe kef Thobestruotibe bc Ciekeoika Ksshts kef Hecbrohnhet bc _hourity Iethrhst Kot,
4004’. It is kaa kpprhoikdah ks tjh Dkegs fhka witj tjh pudaio nbehy kef pudaio iethrhst is
3
Jbwhvhr, eb beh ie tjis obuetry sjbuaf dh fheihf bc ke hcchotivh rhnhfy kef tjh oritioisn is tjkt
tjh prbvisibes bc _KTCKH_I Kot, 4004 krh dhiem nisushf dy tjh Dkegs kt tinhs kef it is
frkobeike. Vjh issuh whet tb _uprhnh Oburt kef tjh obestitutibeka vkaifity bc _KTCKH_I Kot,
4004
4004 wks upjhaf,
upjhaf, jbwhvhr
jbwhvhr,, tjh lufioikry
lufioikry wks vhry nuoj
nuoj okutibu
okutibuss bc tjh iet
iethrh
hrhsts
sts bc tjh
dbrrbwhrs kef prbvifiem tjhn ke hcchotivh rhnhfy. Crbn tjhe, lufioikry ie tjis obuetry jks
nkfh hvhry hccbrt tb hesurh tjkt tjh bdlhot bc tjh _KTCKH_I Kot, 4004 is ebt fiauthf kef kt tjh
sknh tinh, tjh iethrhsts bc tjh dbrrbwhrs krh kasb prbthothf. Abt bc obecusibe wks tjhrh ieitikaay
ks tb jbw ohrtkie prbvisibes bc _KTCKH_I Kot, 4004 krh tb dh iethrprhthf7 jbwhvhr, nkey
issuhs krh shttahf ebw witj lufioikry tkgiem obesisthet stkef be nkey issuhs.
]h okeebt sinpay drusj ksifh tjh obeohres bc tjh dbrrbwhrs kef tjh iethrhst bc tjh dbrrbwhrs ie
_uprhnh Oburt jks jimjaimjthf tjh simeiciokeoh bc rimjt tb prbphrty ks it is k Obestitutibeka Timjt
kasb junke rimjt. Ie tjh kdsheoh bc key prbvisibe hitjhr hxprhssay br dy ehohsskry inpaioktibe,
fhpriviem k phrsbe tjhrhcrbn, tjh Oburt sjkaa ebt obestruh k prbvisibe ahkeiem ie ckvbur bc suoj
fhprivktibe."
4
(400:) 8 _OO ;=3.
=
"Ie k oksh wjhrh k Oburt jks tb whimj dhtwhhe k rimjt bc rhobvhry kef prbthotibe bc k rimjt, it
wbuaf kasb ahke ie ckvbur bc tjh phrsbe wjb is mbiem tb dh fhprivhf tjhrhcrbn. It wbuaf ebt dh
Ie-spith bc tjh oakricioktibes kef tjh hccbrts bc tjh lufioikry ie prbvifiem muifkeoh ks tb jbw tjh
prbvisibes bc _KTCKH_I Kot, 4004 krh tb dh iethrprhthf kef cbaabwhf, nkey stiaa dhaihvh tjkt
ohrtkie issuhs krh stiaa tb dh kffrhsshf uefhr _KTCKH_I Kot, 4004. _bnh bc tjh oritioka issuhs
;. EPK OAK__ICI
OAK__ICIOKVIBE
OKVIBE & _HVVAHNHEV
_HVVAHNHEV BC I__XH_
I__XH_ KV KE HKTAY
HKTAY _VKMH
_VKMH
IV_HAC
Nkey dbrrbwhrs chha tjkt tjhy krh dhiem jkrksshf dy tjh Dkeg bccioikas uerhksbekday kef usiem
tjh prbvisibes bc _KTCKH_I Kot, 4004. Vjhy oakin tjkt tjhy krh ebt ‚wiaacua fhckuathrs’ kef
hvhe ic tjhrh is sbnh gief bc fhckuat, tjhy krh wiaaiem tb obrrhot tjh sknh kef jbebr tjh
obnnitnhets kmrhhf upbe. ]jiah ie sbnh okshs, tjh Dkeg Bccioikas rimjtay sjbw sbnh gief bc
iethrhst ie jhapiem tjh dbrrbwhrs witjie tjh ahmka crknh-wbrg, ie sbnh okshs, tjh Dkeg Bccioikas
kot uerhksbekday kef ievbgh tjh prbvisibes bc _KTCKH_I Kot, 4004 dy oakssicyiem tjh koobuet
Bdvibusay, tjh Dkeg sjbuaf cbaabw tjh muifhaiehs issuhf dy tjh Thshrvh Dkeg bc Iefik ie
akrmhay kef ks tb jbw tjh Dkeg Bccioikas wket tb ush tjh muifhaiehs. Ebrnkaay, tjh issuh bc
:
oakssicioktibe bc koobuet ks ‚Ebe-phrcbrniem Kssht’ is ebt fhkat witj dy tjh Vridueka br tjh
Oburts kef tjhy thef tb suppbrt tjh oakssicioktibe bc key abke koobuet ks EPK ic tjhrh is k fhckuat
ie pkynhets ks kmrhhf. Dut, tjh muifhaiehs issuhf dy tjh Thshrvh Dkeg bc Iefik witj rhmkrf tb
Kssht Oakssicioktibe krh ebt beh-sifhf kef it kaa fhphefs upbe iethrprhtktibe bc tjbsh muifhaiehs
Fhkaiem witj tjh sudlhot, tjh Jimj Oburt bc Kefjrk Prkfhsj ie N/s. _ri _rieivksk Tioh kef Cabbr
‑Vjhrh is, ks obesifhrhf hkraihr ie tjh lufmnhet, eb stktutbry cbrnkt, hxprhss br dy ehohsskry
inpaioktibe, tjkt rhquirhs tjh rhspbefhet dkeg tb cbaabw k pkrtiouakr br cbrnka prbohfurh br
tjh sojhnh bc tjh Kot ie mhehrka kef tjh prbvisibes bc _ho.;? (4) ie pkrtiouakr tjh obeoausibe is
obnphaaiem tjkt tjh ahmisakturh jks obeshorkthf tjh pbwhr, kutjbrity kef fisorhtibe (tb oakssicy k
fhdt ks k EPK) tb tjh shourhf orhfitbr witjie tjh mhehrio muifhaiehs tb dh ksohrtkiehf crbn tjh
K wifh nkrmie
nk rmie bc fisorhtibe is kvkiakdah tb tjh rhspbefhet dkeg ks tjh shourhf orhfitbr, witjie
tjh ahmisaktivh prhshets bc tjh Kot, tb ksshss kef oakssicy k fhdt dut witjie tjh ahmisaktivh
crknhwbrg. Vjis Oburt is ebt obestituthf ke kpphaakth kutjbrity bvhr tjh dkeg’s hxhroish bc
fisorhtibe ie tjis krhk. Vjh rhspbefhet dkeg, ks ahmisaktivhay rhobmeizhf is ke iestitutibe jkviem
tjh rhquisith hxphrtish tb cbrn k obnnhroika lufmnhet be gebwe prieoipahs bc dkegiem prkotiohs
kef prbohfurhs chrtiaizhf dy T.D.I firhotibes kef muifhaiehs tb ksshss kef oakssicy k fhdt ks
EPK. Crbn tjh whkatj bc nkthrika pahkfhf ie tjh obuethr-kccifkvit tjh dkeg jkf ksshsshf tjh
?
400= (6) KAV ?;=< 400= (6) KAF 369.
9
fhdt ks ebe-phrcbrniem kssht. Be ckots, tjh phtitibehrs jkvh nishrkday ckiahf tb hstkdaisj tjkt
suoj ksshssnhet dy tjh dkeg is phrvhrsh br irrktibeka tb k fhmrhh wkrrketiem bvhrsimjt kef
Ny vihw<
Nkey abke koobuets ieckot oke dh shttahf kt tjh stkmh bc oakssicyiem tjh koobuet ks EPK ic tjh
Dkeg is koobnnbfkti
koobnnbfktivh
vh kef wiaaiem
wiaaiem tb rhmuakrizh
rhmuakrizh tjh abke koobuets ic tjh vkauh bc tjh kssht jks
ebt mbeh fbwe kef ic tjhrh is eb prbdahn witj tjh qukaity bc kssht nbrtmkmhf. It is gebwe tjkt it
is ebt nkefktbry cbr tjh Dkeg tb ietinkth tjh dbrrbwhrs iecbrniem kdbut tjh oakssicioktibe bc
koobuet ks EPK kef tjh obeshquheohs. It is kasb ebt obrrhot tb sky tjkt tjh dbrrbwhr is uekwkrh
bc tjh obeshquheohs
obeshquheohs bc fhckuat. Ie sbnh okshs, tjh Dkeg Bccioikas
Bccioikas fb cbaabw ke kniok
kniokdah
dah rbuth
kef mht tjhir koobuets rhmuakrizhf upjbafiem tjh ehhf bc mbbf rhaktibes witj tjh dbrrbwhr. Dut, it
is ebt sb ie sbnh okshs kef tjh nbvhnhet tjh Dkeg issuhs k fhnkef ebtioh uefhr shotibe ;?(4)
bc tjh Kot, tjhy thef tb tkgh tjh prbohhfiems curtjhr, tjbumj kt key stkmh, tjh Dkeg oke obesifhr
tjh prbpbska cbr rhmuakrizktibe bc koobuets ic tjhrh krh eb btjhr fispuths dhtwhhe tjh Dkeg kef
4. PB]HT_ BC
BC FT
FTV
_hotibe ;= bc _KTCKH_I Kot, 4004 prbvifhs k rimjt bc kpphka kmkiest tjh kotibe ieitikthf dy tjh
Dkeg uefhr tjh prbvisibes bc _KTCKH_I Kot, 4004. Vjh dbrrbwhr br key beh kmmrihvhf oke
ojkaahemh tjh pbsshssibe ebtioh issuhf uefhr shotibe ;?(6) 6 kef tjhrh is k tinh-ainit prhsoridhf
cbr prhchrriem ke kpphka. Jbwhvhr, ks tjh Oburts jkvh rimjtay nkfh it oahkr tjkt tjh dbrrbwhr is
6
_KTCKH_I Kot 4004, s. ;?(6).
;0
hetitahf tb quhstibe kaa nhksurhs ieitikthf dy tjh Dkeg pursuket tb tjh pbsshssibe ebtioh uefhr
shotibe ;?(6) kef witj tjis iethrprhtktibe, tjhrh is eb nuoj rhahvkeoh tb tjh tinh-ainit prhsoridhf
tb prhchr ke kpphka tjbumj it wiaa dh ie tjh iethrhsts bc tjh dbrrbwhr tb prhchr ke kpphka ks hkray ks
bc _KTCKH_I Kot, 4004 is kanbst shttahf, tjh issuh bc pbwhrs bc Fhdt Thobvhry Vridueka uefhr
shotibe ;= bc tjh Kot krh stiaa fhdkthf. Crbn tjh stkmh bc nkietkieiem tjkt ‚tjh FTV is suppbshf
tb beay abbg ietb tjh prbohfurka issuhs’, witj tjh iethrprhtktibe bc Oburts, tjh sobph bc pbwhrs bc
Hnpjksiziem tjkt tjh Fhdt Thobvhry Vridueka is hnpbwhrhf tb sht-ksifh k skah obefuothf uefhr
tjh prbvisib
prbvisibes
es bc tjh _KTCKH
_KTCKH_I
_I Kot, 4004,
4004, tjh Jbe’dah
Jbe’dah _uprhnh
_uprhnh Oburt bc Iefik
Iefik ie Iefike
‑4?. Vjh iethetibe bc tjh ahmisakturh is, tjhrhcbrh, oahkr tjkt wjiah tjh Dkegs kef Ciekeoika
Iestitutibes jkvh dhhe vhsthf witj striemhet pbwhrs cbr rhobvhry bc tjhir fuhs,
f uhs, skchmukrfs jkvh
kasb dhhe prbvifhf cbr rhoticyiem key hrrbr br wrbemcua ush bc suoj pbwhrs dy vhstiem tjh FTV
witj kutjbrity kcthr obefuotiem ke kflufioktibe ietb tjh nktthr tb fhoakrh key suoj kotibe
ievkaif
ievkaif kef kasb tb rhstbrh pbsshssibe
pbsshssibe hvhe tjbumj pbsshssibe
pbsshssibe nky jkvh dhhe nkfh bvhr tb tjh
trkeschrhh. Vjh obeshquheohs bc tjh kutjbrity vhsthf ie FTV uefhr _ud-_hotibe (?) bc _hotibe ;=
ehohsskriay inpaihs tjkt tjh FTV is hetitahf tb quhstibe tjh kotibe tkghe dy tjh shourhf orhfitbr
8
(4009) : _OO ?33.
;;
ieoaufiem _ud-_hotibe (?) ie _hotibe ;= jks mbeh tb tjh hxthet bc vhstiem tjh FTV witj kutjbrity
tb hvhe sht ksifh k trkeskotibe ieoaufiem skah kef tb rhstbrh pbsshssibe tb tjh dbrrbwhr ie
kpprbprikth okshs.„
Hnpjksiziem tjkt tjh Fhdt Thobvhry Vridueka oke abbg ietb tjh issuh bc oakins kef obuethr-oakins
uefhr shotibe ;=, tjh Nkfrks Jimj Oburt ie Nisbes Ahktjhr Atf. Ss. Okekrk Dkeg 3 jhaf<
‑Ie k mivhe oksh, tjh oakin bc tjh Dkeg/Ciekeoika Iestitutibes nky dh dkrrhf dy ainitktibe br
tjhrh nky dh okshs, wjhrh tjh kflustnhet bc tjh knbuet pkif is ebt rhcahothf ie tjh ebtioh br tjh
okaouaktibe bc iethrhst nky ebt dh ie koobrfkeoh witj tjh obetrkot dhtwhhe tjh pkrtihs. Ehhfahss
ok
oke
e dh rk
rkis
ishf
hf ie tjh
tjh pr
prbo
bohh
hhfi
fiem
emss uefhr
uefhr _h
_hot
otib
ibe
e ;= bc tj
tjhh Ko
Kott dhcbr
dhcbrhh tj
tjhh Fhdt
Fhdt Th
Thobv
obvhr
hryy
Vridueka.„
Fhkaiem witj tjh issuh strkimjt kwky, tjh Jbe’dah Okaouttk Jimj Oburt hkraihr ie _tkr Vhxtiahs
‑(;6.) VJH ahmisakturh jkviem obechrrhf pbwhr be tjh Fhdts Thobvhry tridueka tb fhoifh ks tb
wjhtjhr nhksurh(s) tkghe dy tjh shourhf orhfitbr ie thrns bc _hotibe ;?(6) bc tjh Kot is/krh ie
koobrfkeoh witj tjh prbvisibes bc tjh Kot br ebt, it ehohsskriay jks tb fhoifh wjhtjhr prh-
obefitibes cbr issukeoh bc ebtioh uefhr _hotibe ;?(4) hxisthf br ebt. Vjkt wbuaf ievbavh k
3
400= (6) NAL 468.
=
400: (?) ]DAT ?:8
;4
fhthrniektibe ks tb wjhtjhr tjhrh jks dhhe fhckuat be tjh pkrt bc tjh dbrrbwhr tb rhpky tjh
shourhf fhdt br ebt kef curtjhr, ks tb wjhtjhr oakssicioktibe bc tjh koobuet ks ebe-phrcbrniem
kssht jks dhhe nkfh ie koobrfkeoh witj tjh firhotibes br muifhaiehs ks rhchrrhf tb ie _hotibe 4
nhksurhs sphoicihf ie shotibe ;?(6) bc tjh Kot ebt ie koobrfkeoh witj tjh prbvisibes obetkiehf ie
shotibes ;? (4) rhkf witj 4 (b) bc tjh Kot, it jks tjh kutjbrity tb fhoakrh tjh kotibe bc tjh shourhf
orhfitbr ks ievkaif. Kt tjh sknh tinh, tjh Fhdts Thobvhry tridueka nky ie k mivhe situktibe cief
eb ckuat kef upjbaf tjh kotibe bc tjh shourhf orhfitbr. Kasb, ie tjh hxhroish bc pbwhr obechrrhf
dy _hotibe ;= bc tjh kot, tjh Fhdts Thobvhry Vridueka nky upjbaf pkrtikaay tjh kotibe bc tjh
shourhf orhfitbr dy prbebueoiem tjkt knbuet "x" is ebt tjh obrrhot obnputktibe bc aikdiaity, dut
it is "x - y" wjioj is tjh aikdiaity. Vjkt wbuaf knbuet tb fhthrniektibe bc tjh hxkot knbuet bc
Ny vihw<
Vjbumj tjh Fhdt Thobvhry Vridueka is hnpbwhrhf tb fhka witj tjh issuhs bc quketun bc fhdt
kef tjh rhakthf oakins uefhr shotibe ;= bc _KTCKH_I Kot, 4004, tjhrh is k oritioisn tjkt tjh
Fhdt Thobvhry Vridueka kvbifs kflufioktibe be ohrtkie issuhs kef jhaps tjh Dkeg dy kaabwiem tjh
Kpphka ciahf dy tjh dbrrbwhrs uefhr shotibe ;= be thojeioka mrbuefs kef hekdaiem tjh Dkegs tb
curtjhr fhka witj tjh dbrrbwhr. Ic tjis is tjh oksh, tjh dbrrbwhr is cbrohf tb kpprbkoj Vridueka
nkey tinhs kef jh is nkfh tb rue crbn piaakr tb pbst. Abmiokaay, tjh dbrrbwhr oke iesist tjh Fhdt
Thobvhry Vridueka tb fhka witj tjh issuhs rkishf dy jin ie jis kpphka kef ic tjhrh is ke
bdshrvktibe ie tjh brfhr kmkiest tjh Dkeg kef cbr tjh dbrrbwhr, tjhe, tjkt is aigh k fhorhh ueahss
rhvhrshf kef tjh bdshrvktibes fb nktthr kef jkvh diefiem ekturh be Dkegs. Vjis is wjkt is
suppbshf tb jkpphe ic tjh dbrrbwhr jks k rhkaay mbbf oksh witj rhmkrf tb tjh quketun bc knbuet
;?
fhnkefhf dy tjh Dkeg, dut, it is vhry rkrh tb shh issuhs prbohhfiem tjis wky ks nkey kaahmh. Ic
tjh FTV is jhsitket br ebt hcchotivh ie kffrhssiem kaa tjh issuhs rkishf dy tjh dbrrbwhr ie jis
kpphka uefhr shotibe ;=, tjhe, tjh dbrrbwhr wiaa dh ahct witj eb rhnhfy kef jh okeebt kasb
kpprbkoj tjh Oivia Oburt ie vihw bc shotibe ?6 kef hvhe ic jh kpprbkojhs tjh Oivia Oburt, it is
vhry ficciouat tb obevieoh kef nkietkie k Oivia _uit ie rhsphot bc k abke trkeskotibe wjhrh tjh
?. _KAH BC K__HV_
K__HV_ XEFH
XEFHT
T _KTCK
_KTCKH_I
H_I KOV
_kah bc Ksshts dy tjh Dkeg uefhr tjh prbvisibes bc _KTCKH_I Kot, 4004 is bcthe oritioizhf dy
tjh dbrrbwhrs. Ie sbnh okshs, tjh kuotibe prbohss is jurrihfay obnpahthf kef it wbuaf dh
hxtrhn
hxtrhnhay
hay ficcio
ficciouat
uat cbr tjh dbrrbw
dbrrbwhrs
hrs tb mht tjh trkesk
trkeskoti
otibe
be sht-ks
sht-ksifh
ifh tjbumj
tjbumj tjh FTV is
hnpbwhrhf tb fb sb uefhr shotibe ;=. It is tjh rhspbesidiaity bc tjh Dkeg tb hesurh tjkt tjhy mht
tjh nkxinun pbssidah prioh cbr tjh prbphrty ie Pudaio Kuotibe ks tjhy krh tjh trusthhs bc tjh
prbphrty kef ks tjh dkakeoh skah obesifhrktibe, kcthr kflustnhets, mbhs tb tjh dbrrbwhr. Vjhrh is
abt bc obnpaioktibe ie tjis prbohss kef it is vhry ficciouat cbr tjh dbrrbwhrs kt tinhs tb cimjt witj
tjhh Dkegs
tj Dkegs kef it jk
jkss sb
sbnh
nhtj
tjie
iem
m tb fb wi
witj
tj tjh
tjh is
issu
suhh bc ak
akog
og bc pr
prbph
bphrr uefhr
uefhrst
stkef
kefie
iem
m bc
Ebt beay wjiah kuotibeiem tjh prbphrtihs uefhr _KTCKH_I Kot, 4004, tjh Dkeg hxhroish
hebrnbus knbuet bc fisorhtibe wjhe nkey prbphrtihs krh kvkiakdah cbr kuotibe kef tjh fispbska
bc k prbphrty ojbshe dy tjh dbrrbwhr oahkrs tjh fhdt. Hvhe crbn tjh pbiet bc vihw bc tjh diffhr
br purojkshr, tjhrh oke dh issuhs. Vjhrh nky dh okshs wjhrh tjh diffhr br tjh purojkshr pkif tjh
;6
hetirh skah obesifhrktibe kef aitimktibe obniem tb Oburts ahkfiem tb ebe-obechrnhet bc obnpahth
bwehrsjip rimjt. Ic tjh fhaky dhtwhhe tjh pkynhet bc skah obesifhrktibe kef kotuka obechrnhet bc
oahkr titah is nbrh, tjh diffhr br purojkshr is kasb ie trbudah ks jh wiaa beay mht k nieinun
iethrhst bvhr jis ievhstnhet ic tjh _kah is ciekaay sht-ksifh kef tjh Dkeg is ksghf tb rhpky tjh _kah
Fhkaiem witj tjh rimjts bc tjh dbrrbwhr ie mhttiem nkxinun pbssidah prioh tb tjh prbphrty ie k
pudaio kuotibe obefuothf dy tjh Dkeg kef tjh vis k vis rhspbesidiaity bc tjh Dkegs, tjh Jbe’dah
Nkfrks Jimj Oburt ie G. Tkknkshavkn & Btjhrs Ss. Iefike Bvhrshks Dkeg :, wks pahkshf tb
bdshrvh ks cbaabws<
‑Cbr hxknpah, ic tjh shourhf orhfitbr, be tjh dksis bc tjh rhahvket nkthrikas, obnhs tb k
obeoausibe tjkt tjh jimjhst dif bcchrhf, hvhe tjbumj jimjhr tjke tjh rhshrvh prioh, fbhs ebt
rhcahot tjh truh nkrght vkauh kef tjhrh jks dhhe key obaausibe knbem tjh diffhrs, tjh shourhf
orhfitbr ie its fisorhtibe nky rhcush tb obecirn suoj jimjhst dif ebtwitjstkefiem tjh ckot tjkt tjh
jimjhs
jimjhstt dif is nbrh
nbrh tjke
tjke tjh upsht prioh.
prioh. Vjis
Vjis is dhokush
dhokush tjh shourhf
shourhf orhfit
orhfitbr
br is ebt beay
beay
iethrhsthf tb rhkaish its fhdt, dut kasb hxphothf tb kot ks k trusthh be dhjkac bc tjh dbrrbwhr sb
tjkt tjh jimjhst pbssidah knbuet oke dh mhehrkthf kef surpaus ic key oke dh rhcuefhf tb tjh
dbrrbwhr. Vjh cirst prbvisb ie eb ueohrtkie thrns nkghs it oahkr tjkt eb skah oke dh obecirnhf
obe cirnhf dy
tjh kutjbrishf bcciohr, ic tjh knbuet bcchrhf is ahss tjke tjh rhshrvh prioh sphoicihf uefhr tjh
Tuah :(8). Jbwhvhr, tjh sudshquhet prbvisb mivhs fisorhtibe tb tjh kutjbrishf bcciohr tb obecirn
suoj skah hvhe ic tjh dif is ahss tjke tjh rhshrvh prioh, prbvifhf tjh dbrrbwhr kef tjh shourhf
orhfitbr kmrhh tjkt tjh skah nky dh hcchothf kt suoj prioh wjioj is ebt kdbvh tjh rhshrvh prioh.
:
KIT 40;0 N
Nkf
kf 9?.
;8
Vjis is bdvibusay sb dhokush tjh prbphrty dhabems tb tjh dbrrbwhr kef ks shourity cbr tjh
shourhf orhfitbr kef dbtj bc tjhn wbuaf dh bdvibusay iethrhsthf tb shh tjkt tjh prbphrty is sbaf
kt k prioh jimjhr tjke tjh rhshrvh prioh. Jbwhvhr, ic dbtj bc tjhn kmrhh tjkt tjh prbphrty oke dh
sbaf, hvhe it jks ebt chtojhf k prioh nbrh tjke tjh rhshrvh prioh7 tjh kutjbrishf bcciohr ie its
Ny vihw<
Vjbumj it is shttahf tjkt tjh Dkeg is suppbshf tb nkefktbriay cbaabw tjh prbohfurh prhsoridhf cbr
obefuot bc k pudaio kuotibe uefhr _KTCKH_I Kot, 4004, it kaa fhphefs upbe tjh ckots kef
oirounstkeohs bc tjh oksh kef tjh uefhrayiem issuh is mhttiem tjh nkxinun pbssidah prioh cbr tjh
prbphrty.
6. JIMJ
JIMJ OBXTV’_
OBXTV’_ LXTI
LXTI_FIO
_FIOVIB
VIBE
E IE K PTBOH
PTBOHHFI
HFIEM.
EM.
Vjbumj Jimj Oburts ushf tb hethrtkie writ phtitibes uefhr Krtioah 443 bc Obestitutibe bc Iefik
ojkaah
ojkaahemi
emiem
em tjh ebtioh
ebtioh uefhr
uefhr shotib
shotibe
e ;?(4)
;?(4) bc _KTCKH
_KTCKH_I
_I Kot hvhe iei
ieitik
tikaay
aay,, tjh
tjhrh
rh wks k
obesifhrkdah knbuet bc rhstrkiet kef tjh hnpjksis wks kawkys tb hesurh tjkt tjh dbrrbwhr rkishs
443, 44= kef Krtioah ?4 bc Obestitutibe bc Iefik krh uetbuojkdah kef tjh Oburts oke beay tkgh k
fhoisibe ks tb wjhe tb hxhroish suoj k lurisfiotibe br ebt. It is akufkdah tjkt tjh Jimj Oburts jkvh
eb
ebtt prbo
prbohh
hhfhf
fhf ie fiau
fiauti
tiem
em tjh
tjh prbv
prbvis
isib
ibes
es bc _KTC
_KTCKH
KH_I
_I Kot,
Kot, 40
4004
04 ke
kef
f tj
tjhh Obur
Oburts
ts jk
jkvh
vh
strhemtjhehf tjh prbohss ie pudaio iethrhst kef ie tjh iethrhsts bc tjh Dkeg.
;3
Jbwhvhr, obesifhriem tjh hcchotivhehss bc rhnhfy kvkiakdah dhcbrh tjh Fhdt Thobvhry Vridueka
kef oahkr krditrkriehss ie fhkaiem witj tjh dbrrbwhrs uefhr _KTCKH_I Kot, 4004, nkey chha tjkt
Oburt wiaa kasb pkss rhksbehf brfhr ks, ebw k fkys, it is ebt tkgiem nuoj tinh tb mht k ]rit
Phtitibe fispbshf bc. Kmkie, tjh Oburts uefhrstkef tjh ehhf bc hkray fispbska bc ]rit Phtitibes ie
Nkey dhaihvh tjkt tjh dbrrbwhrs krh ueehohsskry nkfh tb kpprbkoj tjh Fhdt Thobvhry Vridueka
wjhrh tjh prbohss is sabw cbr tjh dbrrbwhrs kef wjhrh tjh dbrrbwhrs krh nkfh tb fhpbsit
su
suds
dstk
tket
etik
ikaa knbu
knbuet
et bc bu
buts
tstk
tkef
efie
iem
m fuh cbr
cbr mh
mhtt
ttie
iem
m key ie
ieth
thri
rin
n st
stky
ky.. Beoh
Beoh tj
tjhh db
dbrr
rrbw
bwhr
hr
kpprbkojhs tjh Fhdt Thobvhry Vridueka kef ic jh is kmmrihvhf bc tjh prbohhfiems bc tjh FTV br
key brfhr, tjh ehxt rhnhfy kvkiakdah cbr jin is tb ciah ke kpphka dhcbrh tjh FTKV wjioj is kmkie
kpphka uefhr shotibe ;= bc _KTCKH_I Kot, 4004, tjh dbrrbwhr jks tb fhpbsit sudstketika knbuet
kef it oke hvhe dh =8%. Vjus, tjh dbrrbwhr is nkfh tb fhpbsit tjh hetirh nbehy br cbrmht jis
prbphrty hvhe wjhe jis mrihvkeoh is ebt kflufiokthf. Hnpjksiziem tjkt brfiekriay tjh dbrrbwhr
is ebt kaabwhf tb gebog tjh lurisfiotibe bc Jimj Oburt uefhr Krtioah 443 ie _KTCKH_I nktthrs,
tjh Okaouttk Jimj Oburt, ie Keekpurek v. _tkth bc ]hst Dhemka 9, wks pahkshf tb bdshrvh ks
cbaabws<
‑48. Vjh bvhrrifiem prbvisibe ie _hotibe ?8 bc tjh Kot kef tjh iethet tjhrhbc kppkrhet crbn
_hotibe
_hotibe ?= tjhrhbc
tjhrhbc tjkt prbvifhs
prbvifhs tjkt tjh Kot is ie kffitibe tb, kef ebt ie fhrbmktibe
fhrbmktibe bc, ohrtkie
btjhr rhmuaktbry kef mhehrka stktuths, obeohivhs bc k siemah wiefbw rhfrhss dhcbrh tjh Fhdts
9
KIT 4009 Oka 4?3.
;=
Thobvhry Vridueka. Vjh lurisfiotibe uefhr Krtioah 443 bc tjh Obestitutibe okeebt dh tkghe kwky
dy suoj k stktuth
stktuth dut k mrihvkeoh
mrihvkeoh okpkdah bc dhiem rhfrhsshf dy tjh tridueka
tridueka uefhr tjh skif Kot
Ny vihw<
Ic tjhrh is oahkr ueckirehss br krditrkriehss be tjh pkrt bc tjh Dkeg ie ievbgiem tjh prbvisibes bc
_KTCKH_I Kot br ie tjh prbohss, ie ny vihw, tjh Jimj Oburt sjbuaf prbvifh rhaihc tb tjh
dbrrbwhr witjbut akyiem nuoj hnpjksis be tjh issuh bc kvkiakdiaity bc kathrektivh rhnhfy uefhr
shotibe ;= bc _KTCKH_I Kot, 4004. Dkegs krh ie eb wky inpkothf witj tjis ks tjh Jimj Oburts
krh kawkys obeohrehf witj tjh pudaio iethrhst kef ks tjhy wiaa dh fispbsiem bc tjh ]rit Phtitibes
8. OISIA
OISIA OBXT
OBXTV’
V’_
_ LXTI_F
LXTI_FIO
IOVI
VIBE
BE<<
Vjhrh is k oahkr Dkr uefhr shotibe ?6 bc _KTCKH_I Kot, 4004 be Oivia Oburts ie fhkaiem witj
_KTCKH_I rhakthf issuhs. It is kasb vhry ficciouat tb obevieoh k pkrtiouakr Oivia Oburt tjkt it jks
lurisfiotibe tb hethrtkie k pkrtiouakr suit kmkiest tjh Dkeg irrhsphotivh bc Dkeg rhchrriem tb tjh
prbvisibes bc _KTCKH_I Kot. Oivia Oburt’s lurisfiotibe is ebt obnpahthay dkrrhf kef ieckot
okeebt dh dkrrhf hvhe ie okshs wjhrh tjh Dkeg jks ievbghf tjh prbvisibes bc _KTCKH_I Kot,
4004. Ic tjh FTV is ebt oahkray hnpbwhrhf tb fhka witj ohrtkie issuhs rkishf dy tjh dbrrbwhr br
tb dh rkishf dy tjh dbrrbwhr br tjh kmmrihvhf phrsbe, tjh dbrrbwhr br tjh kmmrihvhf oke ohrtkieay
kpprbkoj Oivia Oburt kef it is shttahf. Dut, wjhe k dbrrbwhr is hetitahf tb kpprbkoj tjh Oivia
Oburt fhphefiem upbe tjh ckots bc tjkt pkrtiouakr oksh, tjhe, it is ohrtkie tjkt it is ebt hksy tb
obevieoh k Oivia Oburt tjkt it jks lurisfiotibe tb hethrtkie k pkrtiouakr suit kmkiest tjh Dkeg wjhe
;:
tjh Dkeg jks ievbghf tjh prbvisibes bc _KTCKH_I Kot, 4004. Ic tjh Oivia Oburt is obevieohf bc
hethrtkieiem k pkrtiouakr suit kmkiest tjh Dkeg, tjhe, bdvibusay, tjhrh oke dh ke ielueotibe kmkiest
tjh Dkeg ie prbohhfiem uefhr tjh prbvisibes bc _KTCKH_I Kot kef tjhrh is ebtjiem tb wbrry be
tjis ks beay vhry chw ehmaimidah okshs qukaicy tb dh nkietkiehf dhcbrh k Oivia Oburt. Vjhrh is
ebtjiem tb wbrry cbr tjh Dkegs tbb witj rhmkrf tb Oivia Oburt’s lurisfiotibe kef tjhy krh hetitahf
tb innhfikthay shhg rhfrhsshs uefhr Krtioah 44= ic tjhy chha tjkt tjh Oivia Oburt is hxhroisiem tjh
Vjhrh oke rhkaay dh mheuieh okshs wjioj oke dh kef sjbuaf dh fhoifhf dy tjh Oivia Oburt.
Jbwhvhr, witj sbnh dbrrbwhrs tryiem tb stkaa tjh _KTCKH_I prbohhfiems dy ciaiem k suit ie
Oivia Oburt kef Jimj Oburts obniem jhkviay, it is bcthe chat tjkt tjh dbrrbwhr jks eb rhnhfy
dhcbrh k Oivia Oburt ic tjh Dkeg ievbghs tjh prbvisibes bc _KTCKH_I Kot beoh. It is k
nisobeo
nisobeohpt
hptibe
ibe kef k Oivia
Oivia _uit
_uit dhcbrh
dhcbrh k Oivia
Oivia Oburt
Oburt kmkies
kmkiestt tjh Dkeg is nkietk
nkietkiek
iekdah
dah ie
kpprbprikth okshs irrhsphotivh bc wjhtjhr tjh Dkeg jks ievbghf tjh prbvisibes bc _KTCKH_I Kot
br ebt.
OBEOAX_IBE
Ke kssht dhobnhs ebe-phrcbrniem wjhe it ohkshs tb mhehrkth ieobnh cbr tjh dkeg. Ie Iefik, k
Ebe-Phrcbrniem Kssht (EPK) is drbkfay fhciehf ks beh witj iethrhst br prieoipka rhpkynhet
iestkanhet uepkif cbr nbrh tjke 90 fkys.Vjhrh hxist fhciehf nhojkeisns tb fhka witj EPKs bc
dkegs kef
ke f ciekeoika iestitutibes tbfky. Jbwhvhr pribr tb ;99?, dkegs jkf
jk f tb tkgh rhobursh tb tjh
abem ahmka rbuth kmkiest fhckuatiem dbrrbwhrs, dhmieeiem witj tjh ciaiem bc oakins ie tjh oburts. K
;9
abt bc tinh wks tjhrhcbrh sphet ie tjh lufioika prbohss dhcbrh dkegs obuaf jkvh key ojkeoh bc
rhobvhry be tjhir abkes. Be kvhrkmh, k oivia suit fhoisibe tbbg keywjhrh dhtwhhe 8 tb = yhkrs.
Xefhr tjh Thobvhry bc Fhdts tb Dkegs kef Ciekeoika Iestitutibes Kot ;99?, Fhdt Thobvhry
Vriduekas (FTVs) whrh sht up cbr rhobvhry bc abkes bc dkegs kef ciekeoika iestitutibes. Vjis ahf
tb sphhfy rhobvhry bc abkes ie kdbut ; yhkr’s tinh ks kmkiest tjh kvhrkmh tinh bc 8 tb = yhkrs
rhquirhf ie oivia suits. ]jiah ieitikaay tjh FTVs phrcbrnhf whaa, tjhir prbmrhss succhrhf ks tjhy
Vb sphhf up tjh prbohss bc rhobvhry crbn EPKs, Vjh _houritisktibe kef Thobestruotibe bc
Ciekeoika Ksshts kef Hecbrohnhet bc _hourity Iethrhst Kot (_KTCKH_I) Kot wks hekothf ie
4004 cbr rhmuaktibe bc shouritizktibe kef rhobestruotibe bc ciekeoika ksshts kef hecbrohnhet bc
shouri
shourity
ty iethrh
iethrhst
st dy shourh
shourhf
f orhfit
orhfitbrs
brs.. Vjh _KTCKH
_KTCKH_I
_I Kot hnpbwh
hnpbwhrs
rs Dkegs
Dkegs / Ciekeoi
Ciekeoika
ka
Iestitutibes tb rhobvhr tjhir ebe-phrcbrniem ksshts witjbut tjh iethrvhetibe bc tjh Oburt. Vjh Kot
_houritisktibe
Kssht Thobestruotibe
40
DIDAIBMTKPJY
PTINKTY _BXTOH_
;. AHM
AHMI_AK
I_AKV
VIBE_
IBE_
KOV, ;99?
4. OK_H AK]_
?. G. Tkknkshavkn & Btjhrs Ss. Iefike Bvhrshks Dkeg KIT 40;0 Nkf 9?.
:. _tkr Vhxtiahs kef Iefustrihs Atf Ss. Xeibe bc Iefik 400: (?) ]DAT ?:8.
_HOBEFKTY _BXTOH_
;. DBBG_
4;
40;8)
- Zohss Dbkrf, Kotibe Xefhr Vjh _krckhsi Kot - K _jbrt Obnnhetkry & Vjh
- www.
www.tkxn
tkxnkee.o
kee.obn
bn
- www.
www.soob
soobeaie
eaieh.ob
h.obn
n
- www.
www.lstb
lstbr.br
r.brmm
44