The certifying authorities, which could be private companies, would certify the authenticity of digital signatures. The Bill recognises, for the first time, electronic records and digital signatures. The IT Bill also provides legal recognition to transactions carried out by means of electronic data interchange or through any electronic medium, including the internet. Prior to this Bill, most laws required data or records to be in written or type written form. Only then could contracts be enforced.
Digital signature is an authentication of an electronic record by a person using electronic means.
The Bill also prescribes a maximum three-year jail term for hackers. For the first time, the Bill also defines cyber crimes, which include hacking into a computer network, creation of viruses and forcibly taking over a computer network. The Centre will appoint adjudicating officers to decide whether or not cyber crime has been committed. The decisions of the adjudicating officers can be challenged before the Cyber Law Appellate Tribunal, a new body which the IT Bill seeks to create. Report on new Competition law submitted AN expert committee has submitted a new competition law to Prime Minister A.B. Vajpayee.