The installation of a light rail transit system in Austin would be a step in the direction of progress for Austinâ€™s traffic problem. Austinâ€™s present traffic situation is atrocious. There seems to be no real plan on how it will be fixed and paid for. The Capital Metro buses are the only form of mass transit in Austin. The buses run for college students and go around campus and off campus. The buses that only travel on campus never have a very high ridership, where as the buses that go off campus always tend to be overfull. This is where light rail comes in.
Light rail is a term that come into being only in the last thirty or forty years. It refers to an electric railway system, constructed in the 1970s or later, characterized by its ability to operate single or multiple car consists, trains. It travels along exclusive rights-of-way track at ground level, on aerial structures, in subways, or in streets. It can board and discharge passengers at station platforms or at street, track, or car-floor level. Light rail can also refer to an electric railway with a "light volume" traffic capacity, as opposed to heavy rail. Light rail may use shared or exclusive rights-of-way, high or low platform loading and multi-car trains or single cars. Also known as "streetcar," "trolley car" or "tramway.â€
Opponents of Austinâ€™s proposed light rail system usually say that a better solution to Austinâ€™s traffic problem is to add more lanes to the highways and add more miles of road. They also say that the city needs to maintain the current streets better. Houston is a good example of what good roads can do to help traffic problems. Houston Metro, Houstonâ€™s transit agency, spent $700 million on 88 miles of carpool lanes in Houston. Carpool lanes, or high occupancy vehicle(HOV) lanes, are lanes that are separated from the main highway by barriers and require that a vehicle be carrying at least two people to use them. The extra HOV lanes have reduced Houstonâ€™s overall traffic congestion by six percent. In Katy, southwest Houston, the HOV lanes have reduced congestion by 14 percent.
Houston has done a good job with improving their highways, but there are some downsides. Even though the HOV lanes have helped to reduce traffic congestion in most places by up to six percent, they are now carrying more people than designed for.
Insider Trading in India-an Analysis of Yesterday Essay
It also contained provisions prohibiting fraud related to securities trading. However, insider trading laws were mostly built with the support of US courtroom decisions. Ultimately, two legislations were enacted which specifically addressed the issue of insider trading, firstly, by the Insider Trading Sanctions Act, 1984 and secondly, by the Insider Trading and Securities Fraud Enforcement Act, 1988. â€˜Utpal Bhattacharya and H.
Daouk, in their study on insider trading, state that the jurisprudence on insider trading saw a rise from the 1990s, and only 81 countries out of 103 countries reviewed and had insider trading laws, while prosecution took place only in 38 countries.
â€™ In India, several committees were formed to check the applicability of the US regulations on Indian soil. The first committee which took the initiative to evaluate the regulations on short swing profit was PJ Thomas Committee, thereby introducing Sections 307 and 308 in the Companies Act, 1956.
This basically requires the directors and managers of the company to make shareholding disclosures. However, such discloser requirements were still not enough to curb the nuisance and further deliberations were thought necessary over the matter. Hence, in 1979, Sachar Committee was formed, followed by the Patel Committee (1986) and finally Abid Hussain Committee (1989). All these three committees voiced out their opinion of having an immediate solution to the problem and advocated the need to have a separate law altogether on insider trading in stock market.
Finally when the post liberalization period arrived, activities in the Indian stock market were at its peak and hence to acquire the necessary control over the domain, in 1992, the SEBI Act was introduced. The SEBI Act, 1992 in turn used its power to formulate a number of regulations and thus as one of those regulations, the SEBI (Insider Trading) Regulations was born. Later on, the said regulations were amended in 2002 and now it is known as the SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter â€œthe insider regulationsâ€).
Since then, changes were made at least twice, one in 2002 and another in 2008. Jurisprudence behind Insider Trading Laws â€˜Insider trading occurs when a corporate insider trades on information before it is disclosed to the general public. â€™ The fundamental legal principle behind barring such an activity is that anyone who has acquired any kind of material or special information about a security in his fiduciary capacity should not be allowed to trade with the same security for his own benefit. In stock market, trust and confidentiality are two sides of the same coin.
Investors invest their money based on the integrity of the market. Hence, to develop a healthy market, both prospective and current investors must feel secured to invest. Law in matters of tracking insider trading, could be of help in two ways, firstly, it could penalize those who engage in insider trading and secondly, it could create an incentive based system which would encourage disclosure of such activities. In past also, there have been catastrophic consequences where innocent public were robbed off their money because of few people who due to their greed jeaopardised the functioning of entire stock market.
Stock market is a place where people expect simple demand and supply to influence the price of the securities. So when such prices are rigged, the investors start losing confidence, as a result either they start withdrawing money from the market or they end up not investing at all. This in turn stops the free flow of capital and other very important financial activities which could be very appalling for the economy. Description of Insider Trading as an Offence Laws related to insider trading in India are still in the nascent stage.
The SEBI (Prohibition of Insider Trading) Regulations, 1992 gives a very detailed description of insider trading, however no where it has defined the term â€˜Insider Tradingâ€™. For understanding the scheme of insider trading, there are four definitions which could help the various authorities to locate such an activity. The concept of â€˜Insider Tradingâ€™ can be understood when the definitions of â€˜insiderâ€™, â€˜dealing in securitiesâ€™, â€˜price sensitive informationâ€™ and â€˜connected personsâ€™ are read together and understood in consonance with each other. The term â€˜insiderâ€™ can be classified for convenience into at least two or more forms.
Write something about yourself. No need to be fancy, just an overview.