{"id":65047,"date":"2020-05-05T12:30:22","date_gmt":"2020-05-05T07:30:22","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65047"},"modified":"2020-05-05T12:30:23","modified_gmt":"2020-05-05T07:30:23","slug":"amendments-approved-in-companies-act-2017-to-facilitate-startups","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/amendments-approved-in-companies-act-2017-to-facilitate-startups.html","title":{"rendered":"Amendments approved in Companies Act, 2017 to facilitate startups"},"content":{"rendered":"\n

Islamabad: President Dr Arif Alvi has approved the proposed amendments to the Companies Act, 2017, in a bid to facilitate startups <\/a>across the country by providing them with an \u2018enabling regulatory framework\u2019, according to news sources.<\/p>\n\n\n\n

The Securities and Exchange Commission of Pakistan (SECP) issued a press release on Monday to notify the amended law \u2013 aimed to \u2018promote and nurture startups\u2019 while attracting investments from local and foreign sources.<\/p>\n\n\n\n

Read:<\/strong> SBP directs banks to provide refinancing facility to businesses for employee retention<\/a><\/p>\n\n\n\n

The said law was reviewed by the SECP and various other internal and external stakeholders before being brought to the president\u2019s desk. Upon the recommendation of the review committee, various amendments were proposed to encourage ease of doing business, promote startups, enhance minority-shareholder protections, and eliminate the anomalies discovered within the original draft of the Companies Act, 2017.<\/p>\n\n\n\n

According to analysts, these improvements are also likely to enhance Pakistan\u2019s global ease of doing business ranking.<\/p>\n\n\n\n

Read:<\/strong> Federal govt mulls offering tax relief to businesses, industries<\/a><\/p>\n\n\n\n

The press release details that these amendments were promulgated through the Companies (Amendment) Ordinance, officiated on April 30; some of which are as follows:<\/p>\n\n\n\n