SANGSAD BHABAN, Feb 12, 2020 (BSS) – The Company (Amendment) Bill, 2020 was placed in parliament today for enacting a law amending the existing Company Act, 1994.
Commerce Minister Tipu Munshi today placed the bill in the house with Speaker Dr Shirin Sharmin Chaudhury in the chair.
He said the proposed law will be enacted in an amended form by replacing the existing ‘Company Act, 1994’ to make the act more business-friendly and improve ‘all the indexes of the ease of doing business’.
Criticizing the bill’s provision of doing away with conventional seal on various purposes including business, opposition lawmaker Fakhrul Imam said it would create confusion in the trading process as all the agencies are using the seal to certify themselves.
“The elimination of the seal would take the country at least eight steps ahead in international business process,” said the minister.
He called for sending the bill to the parliamentary standing committee concerned for further scrutiny.