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6 Legal Rights of an 18-Year-Old in India: You Must Know!

This article on 'Legal Rights of an 18-Year-Old in India' was written by an intern at Legal Upanishad.

Introduction

In this article, we will take a look at what are the legal rights of an 18-year-old in India. We will understand the meaning of a child, when the age of majority is attained, the Indian Majority Act, and finally rights of an individual who has attained the age of majority.

Definition of a Child

In International Law, a ‘child’ means every human being who is below the age of 18 years which is mentioned in the United Nations Convention on the Rights of the Child (UNCRC). It is an international legal agreement that is accepted and ratified by most countries. India has always recognized the category of persons below the age of 18 years as a distinct legal entity which is exactly why people can vote or get a driving license and/or enter into legal contracts only and only when they attain the age of 18 years. According to the Child Marriage Restraint Act, 1929 marriage of a girl who is below the age of 18 years and a boy under 21 years is restrained from marriage. Moreover, after signing and ratifying the UNCRC in 1992, India had to change its law on juvenile justice to ensure that every person who is below 18 years of age, who needs care and protection, is entitled to receive it from the State.

The Indian Majority Act, 1875

According to section 3(1) of the Indian Majority Act 1875, unless or otherwise, any personal law specifies a different age of majority, every person who is domiciled in India would attain the age of majority upon the completion of 18 years. Section 3(2) of the Act states that to compute the age of any person, the day on which they are born is counted as a whole day and an individual would attain the age of majority at the very beginning of that day. In cases where the court appoints a guardian or if an individual is under the court of wards then they would attain the age of majority after the completion of 21 years.

Rights that can be enjoyed at 18 years old in India

In the case of Preeti and the State of Haryana, the Punjab and Haryana High Court held that children usually attain the age of psychological and physiological maturity much before the legal age of majority. An important question was raised whether the legal age of the majority is on par with modern society. The age of majority for a minor is determined by when the minor achieves mental and physical maturity. However, it depends upon current societal values including various socio-economic factors but most importantly, what society expects from its minors. Rights given to 18 years old may include:- 1- Right to marry: Earlier, the age of getting married was 18 years for girls and 21 years for boys. But recently the government increased the minimum age for marriage for girls from 18 years to 21 years of age. 2- Right to vote: Earlier the voting age in a democracy mainly was 21 years or higher but in the 1970s several countries reduced the age to 18 years. According to the Sixty's first Constitutional Amendment, the voting age was decreased from 21 years to 18 years for the election of the Lok Sabha and the Legislative Assemblies. One can apply for a voter Id card once they attain the age of majority. Voter ID is a photo identity card issued by the Election Commission of India to all Indian citizens who are eligible to vote. 3- Right to driver's license: In India, after the age of 18 years and above one can become eligible for applying for a driving license for driving motor vehicles. Different license categories are there for non-transport vehicles or private vehicles and transport vehicles. 4- Apply for a pan card: When an individual starts earning, a pan card is needed for filing income tax returns. A PAN Card is a permanent account number issued by the Indian income tax department. One can also apply for a pan card before they turn the age of 18 years but it will be seen as a minor pan card. 5- Bank Account and ATM Card: One can open their own Bank Account after 18, no doubt before 18 also you can start a bank account for savings and school scholarships, etc. But Minor Bank Account has some restrictions. Not all facilities are available as compared to normal accounts such as ATM Card or debit card, internet banking, checkbook facility, etc. 6- Enter into a contract: In India, since 18 years is the age of majority, individuals who are the age of 18 years, do not have any capacity to enter into a contract. A contract or an agreement entered into by a minor is null and void from the beginning and no one can sue them for specific performance or damages. The State provides minors with civil and criminal immunities.

Conclusion

According to the new amendment made in the Indian Majority Act, the new minimum marital age for females will take precedence over all personal laws; thus, the legal age of marriage will be raised for all females, regardless of religion. Before this amendment, in 1978, the Indian government raised the legal minimum marriage age for girls from 15 to 18 years and boys from 18 to 21 years. The Delhi High Court has held that an individual of 18 years of age has full-fledged authority to lead their life according to their terms and parents are not allowed to force them to do things against their will.

References

- Understanding Child Rights. Vikaspedia. Retrieved from:- https://vikaspedia.in/education/child-rights/understanding-child-rights  - Indian Majority Act: Defining Legal Parameters Of Adulthood. Get Legal India. Written by Deeksha.  Retrieved from:- https://getlegalindia.com/indian-majority-act/  - Rights of an 18 year old. Quora.com. Written by Harsh Rane in 2019. Retrieved from:- https://www.quora.com/I-have-turned-18-and-I-am-Indian-What-rights-do-I-have  - Delhi HC gives 18-yr-olds right to choose. DNAIndia. WRITTEN BY Kanu Sarda on Jul 12, 2010. Retrieved from:- https://www.google.com/amp/s/www.dnaindia.com/india/report-delhi-hc-gives-18-yr-olds-right-to-choose-1408523/amp  Read the full article

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Crypto Regulations in Australia: All You Need to Know Today!

This article on 'CRYPTO REGULATIONS IN AUSTRALIA' was published by Legal Upanishad.

Introduction

Crypto is also known as Cryptocurrency. It is a form of digital currency where no physical cash is needed and it uses cryptography to secure its digital transactions. Cryptocurrency uses a decentralized system instead of being regulated by the central authorities. It believes in a peer-to-peer system where there is an ease in transferring and receiving payments. When these transactions take place, they are verified and recorded in a digital ledger and the most known digital ledger is Blockchain. Like the physical currency is stored in our wallets, similarly, cryptocurrency is stored in wallets but digitalized ones. The first cryptocurrency was Bitcoin. The author states the types of cryptocurrencies in Australia and discusses the Crypto Regulations in Australia in this article. This article explains the current Australian crypto regulatory framework.

Types of Cryptocurrencies

Crypto has two classifications which are as follows: - Coins: Coins are those cryptocurrencies that are used to serve as decentralized digital currency platforms. These include Bitcoin and Altcoin, which have their independent ledger existing as a unit value. - Tokens: Cryptocurrencies other than coins which are served to make legal contracts, decentralized financial products, and enterprise solutions, using real-world applications are known as Tokens. Tokens require a proper record of transactions for their functioning purpose. Observing the technological growth in today’s world, one can surely say that cryptocurrencies are supporting investors by providing various benefits and soon crypto will replace physical cash. Crypto shall be the only future currency.

Is Cryptocurrency legal in Australia?

The cryptocurrency was legalized in Australia in the year 2017, subject to the Anti-Money Laundering and Counter-Terrorism Financing Act, 2006. However, the regulations relating to buying cryptocurrency are quite strict. The introduction of crypto in Australia has made it a financial technology leader. The cryptocurrency is viewed as a property or an asset by the Australian Tax Office, thus, it is liable to capital gains tax. 

Crypto Regulations in Australia

The Crypto Regulations in Australia are managed by the Australian Securities and Investments Commission (ASIC). Though there have been various legislative amendments, ASIC has informed that all measures and guidance are been taken for cryptocurrencies. It has recently introduced a consultation process for crypto assets. It sees to it that all the appropriate steps are taken for crypto regulations in Australia and nothing illegal is practised. As per the December 2021 news updates, it is said that Australia Proposes New Laws to Regulate Crypto. Australia proposes to create a licensing framework for the crypto exchanges and launches a centralized bank digital system including cryptocurrencies. Also, the country seems to expand its online payment transactions providers like the famous provider's Apple Inc and Alphabet Inc's Google as well as buy-now-pay-later providers like Afterpay Ltd. Australian government aims to keep its country in the frontiers of the technological fields and grow more than the other countries. The number of Australians transacting in cryptocurrency is rising immensely, the global pandemic being a major reason which has made everyone transact online. As per the recent SBS News, Treasurer Josh Frydenberg has announced plans for tougher regulation of non-cash payment systems such as cryptocurrency and buy-now-pay-later (BNPL) services like Afterpay. Mr Frydenberg said while Australian investors will still bear risk in cryptocurrency investments, more regulation is being introduced to promote greater transparency and accountability. Even though the Reserve Bank has been muted about the possibility of it creating a digital currency to respond to the demand for cryptocurrency, Mr Frydenberg said the idea is under active consideration. Further, let us know the New Australian Crypto Regulation Planned for 2022, said Senator Braggs. He stated that Australia’s planned cryptocurrency legislation could be coming soon. Also, the planned legislation will make Australia a leading nation in the digital asset world. He said that Australia needs a robust policy framework for digital assets in line with consumer protection, investor promotion, and market competition.

Current Australian Crypto Regulatory Framework

The Australian Crypto Regulations have planned for some kind of strict crypto control. Nonetheless, the country is one of the leading crypto places having legalized cryptos as early as 2017. As stated prior, the cryptos are considered property which makes them liable to capital gains tax and this helps in the growth of the economy. There have been made amendments to the laws regulating cryptos in the years 2018 and 2019. Yet, the crypto regulations face various challenges but the major one is the definition of digital assets. Also, the crypto stakeholders keep on calling for updates regarding the crypto regulations as cryptos are said to be the main source in digital payment transactions. As said by Senator Braggs at a Blockchain Australia-supported NFT virtual event, “The new Australian crypto regulations would also address crypto energy concerns. The Australian government is looking to attain a net-zero economy, which seeks to balance the greenhouse gas produced and those removed from the atmosphere. With the new regulations, Australian mining can soon rely fully on renewable energy sources.”

Crypto Regulations in Australia

Best Crypto Exchange Australia

3 Cheap Bitcoin Exchanges: As per the latest Economic times news report, the following are said to be the Best Crypto Exchange Australia: - eToro: eToro is a Bitcoin trading platform regulated by the Australian Securities and Investments Commission and has an Australian financial services license. eToro has an office in Sydney, New South Wales. The platform is open to Australian customers, traders in New Zealand, and many other countries across the world. eToro is also regulated by the FCA and CySEC. It enables the buying and selling of more than 120 crypto coins presently. - ByBit: ByBit is an alternative Crypto trading platform in Australia. ByBit offers both spot trading and margin trading for crypto (which is called futures trading), which is not available in eToro. - Binance: Binance is the most famous Crypto trading platform which Australian users can use. Although the user base is higher in Coinbase, the volume of trade is on the higher side on Binance.

Suggestions

- Investing in Cryptos in Australia is said to be beneficial for the person aware of the regulations, yet he should be alert and not commit any illegal acts. A person must be careful with online transactions and pay taxes on time. - Legal Trading in cryptocurrencies must be done instead of illegal for the want of more monetary gains. As the Australian Securities and Investments Commission’s regulations are very severe and would not tolerate any wrongdoing. - Anything used excessively is harmful to a person. So, the use of cryptocurrencies should be monitored by oneself. - Everything has pros and cons, similarly, it is with cryptocurrencies, so, along with taking the benefits, one should be acquainted with cons also.

Conclusion

The author would conclude by stating that, if a person wants to buy cryptos in Australia then he must first find a licensed exchange to do so. Cryptos are said to be a beneficial form of digital currencies and the Australian Securities and Investments Commission has made several regulations for operating cryptocurrencies, keeping in mind the frauds being done through them. The author has also stated the current Australian crypto regulatory framework and the best bitcoins available to trade in Australia. Thus, the Crypto Regulations in Australia seem to be the best, growing the country’s economy and following the laws of the country.

References

- Geeti Chawla, Amanda Ceruti. (2021, September 19). Australia: Understanding cryptocurrency in Australia. Retrieved: https://www.mondaq.com/australia/fin-tech/1112638/understanding-cryptocurrency-in-australia - https://gocardless.com/en-au/guides/posts/cryptocurrency-regulations-in-australia/ - Mediawire. (2022, January 28). Best Crypto Exchange Australia - 3 Cheap Bitcoin Exchanges Retrieved: https://economictimes.indiatimes.com/industry/banking/finance/best-crypto-exchange-australia-3-cheap-bitcoin-exchanges/articleshow - Staff Reporter. (2022, January 22). New Australian Crypto Regulation Planned for 2022 Says, Senator Braggs. Retrieved: https://coinculture.com/au/policy-regulation/australian-crypto-legislation-in-2022 - Biwa Kwan. (2021, December 8). Australia to toughen regulations for cryptocurrency and 'buy-now-pay-later' providers. Retrieved: https://www.sbs.com.au/news/australia-to-toughen-regulations-for-cryptocurrency-and-buy-now-pay-later-providers - Renju Jose, Byron Kaye. (2021, December 8). Australia proposes new laws to regulate crypto, BNPL. Retrieved: https://www.reuters.com/markets/currencies/australia-plans-update-regulatory-framework-payment-systems-2021-12-07 https://www.reuters.com/markets/currencies/australia-plans-update-regulatory-framework-payment-systems-2021-12-07/ https://www.sbs.com.au/news/australia-to-toughen-regulations-for-cryptocurrency-and-buy-now-pay-later-providers https://coinculture.com/au/policy-regulation/australian-crypto-legislation-in-2022/ https://economictimes.indiatimes.com/industry/banking/finance/best-crypto-exchange-australia-3-cheap-bitcoin-exchanges/articleshow Read the full article