New laws close loopholes for corporate vice

The re-registration will pave way for an online database
The re-registration will pave way for an online database

Amendments to the Companies Act are set to be passed in Parliament, requiring all companies to re-register their names and shareholdings online for free public access, while also rooting out shadowy investors and practices, BusinessWeek has established.

The amendments to the Companies Act will also kill off the provision for dormant companies and instead only provide two possible statuses for companies – active and deregistered.

New Investment, Trade and Industry minister, Bogolo Kenewendo this week retabled the Companies Act amendments, as well as the Registration of Business Names Re-Registration Bill and Registration of Business Names Bill in Parliament. Legislators passed the Registration of Business Names Re-Registration Bill on Tuesday. The youthful minister said the legislation was part of the broader Doing Business reforms roadmap.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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