n Without Prejudice - The Companies Bill in a nutshell : company law

Volume 8, Issue 9
  • ISSN : 1681-178X



The new Companies Bill seeks to achieve five goals. First, simplification of the law relating to companies; second, flexibility allowing for an appropriate diversity of corporate structures while still maintaining the distinction between listed and listed companies; third, corporate efficiency involving a shift from capital maintenance to a solvency and liquidity, clarification of directors' responsibilities and an avoidance of locking in minority shareholders in inefficient structures; fourth, transparency to ensure proper accountability of directors and appropriate participation of other stake holders, coupled with minimum accounting standards for annual reports and finally predictable regulation involving a decriminalization, where possible, of company law sanctions and a balance between adequate disclosure and overregulation.

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