PRO­POSED PENAL­TIES & COM­PEN­SA­TION

Mint Asia ST - - Money - SHIVAKU­MAR SHANKAR

The penal­ties are in the range of 5 crore or 2% of the to­tal world­wide turnover of the com­pany in the pre­vi­ous fi­nan­cial year, to 15 crore or 4% of the turnover

If an in­di­vid­ual raises a com­plaint with a data fidu­ciary or com­pany in ques­tion, and the fidu­ciary fails to com­ply with any re­quest without rea­son­able ex­pla­na­tion, it will be li­able to a penalty of 5,000 for each day dur­ing which such de­fault con­tin­ues, up to 10 lakh An in­di­vid­ual can claim com­pen­sa­tion if she has suf­fered ‘harm as a re­sult of any vi­o­la­tion of any pro­vi­sion un­der this Act’, as per Sec­tion 75 of the draft bill As the first step to­wards data pri­vacy, the com­mit­tee has struck a bal­ance be­tween pri­vacy and the Need to al­low data to be used for le­git­i­mate and ben­e­fi­cial pur­poses. Defin­ing in­di­vid­u­als as data prin­ci­pals and pro­ces­sors as data fidu­cia­ries will help en­hance the au­ton­omy of in­di­vid­u­als and place a great de­gree of re­spon­si­bil­ity on the pro­ces­sor to Main­tain trust. Man­ag­ing direc­tor - In­dia, Lex­isnexis Risk So­lu­tions

GRAPHIC BY SARVESH KU­MAR SHARMA/MINT

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.