SANGSAD BHABAN, Feb 18, 2020 (BSS) – The Company (amendment) Bill,2020 was passed in the parliament for enacting a law amending the existing Company
Act, 1994.
Commerce Minister Tipu Munshi moved the bill in the House which was
unanimously passed by voice votes with Speaker Dr Shirin Sharmin Chaudhury in
the chair.
While placing the bill, the minister said the proposed law will be enacted
in an amended form by replacing the existing ‘Company Act, 1994’ to make the
act more simple and business-friendly.
“Even enactment of the new law would help to improve all the indexes of the
Ease of Doing Business Index of the country,” he added.
Criticizing the provision of eliminating the use of conventional seal in
various purposes including business in the proposed bill, opposition lawmaker
Fakhrul Imam said, “The elimination of the seal would create confusion in the
trading process in the country as all the agencies are using the seal to
certify themselves.”
However, while placing the bill the minister said, “The elimination of the
seal in the new act would take the country at least eight steps ahead in
international business process.”
Earlier, the bill was placed in the parliament and it was sent to the
concerned parliamentary standing committee for further scrutiny.