The MoS has prepared a draft bill, The Central Port Authorities Act, 2016 to replace the Major Port Trusts Act, 1963. This step is being taken keeping in view the need to give greater autonomy and flexibility to major ports. Under the bill, the composition of the board has been simplified and it will comprise nine members including three to four independent members. The board of the port authority has been given the power to raise loans and issue securities for capital expenditure and meeting working capital requirements. The board has also been given the power to fix the scale of rates for services.