Bill to amend law regulating Nigerian companies scales second reading

The Senate has moved to repeal and re-enact the twenty-eight-year-old Companies and Allied Matters, CAMA Act to promote financial stability and to reduce the time and cost of setting up a company, yesterday got a boost as the Bill scaled second reading.

Watch Also: Coronavirus: How Italian entered Nigeria with deadly virus

A Bill for an Act to repeal the Companies and Allied Matters Act, Cap. C20, Laws of the Federation of Nigeria, 2004 and enact the Companies and Allied Matters Act, 2020 to provide for the incorporation of companies, limited liability partnerships, limited partnerships, registration of business names together with incorporation of trustees of certain communities, bodies, associations; and for related matters, 2020 (SB. 251) is sponsored by the Senate Leader, Senator Abdullahi Yahaya, All Progressives Congress, APC, Kebbi North.

The Bill also seeks to provide an efficient means of regulating businesses, minimize the compliance burden of small and medium enterprises (SMEs), enhance transparency and shareholder engagement and promote a friendly business climate in Nigeria.

The Senate has moved to repeal and re-enact the twenty-eight-year-old Companies and Allied Matters, CAMA Act to promote financial stability and to reduce the time and cost of setting up a company, yesterday got a boost as the Bill scaled second reading.

A Bill for an Act to repeal the Companies and Allied Matters Act, Cap. C20, Laws of the Federation of Nigeria, 2004 and enact the Companies and Allied Matters Act, 2020 to provide for the incorporation of companies, limited liability partnerships, limited partnerships, registration of business names together with incorporation of trustees of certain communities, bodies, associations; and for related matters, 2020 (SB. 251) is sponsored by the Senate Leader, Senator Abdullahi Yahaya, All Progressives Congress, APC, Kebbi North.

The Bill also seeks to provide an efficient means of regulating businesses, minimize the compliance burden of small and medium enterprises (SMEs), enhance transparency and shareholder engagement and promote a friendly business climate in Nigeria.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>