'Financial laws should be reviewed every 10 years'

........The FSLRC, which released an approach paper on harmonising financial sector laws on Monday, is likely to propose a sunset clause of about 10 years in its final report to be given to the government in March 2013. “From 1934 (when the Reserve Bank of India Act was passed) to 2012, you cannot have the same legislation in the country. Law itself can give a sunset clause. It could be 10 years and after that the law can be reviewed,” FSLRC Chairman Justice B N Srikrishna told reporters on Thursday.........

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