During a session held Wednesday, headed by Lower House Speaker, Ahmed Safadi, and in the presence of the Cabinet, deputies began deliberations of 2022 Companies Law amendments. The House approved a slew of the draft’s articles as referred from its Economy and Investment Committee, after an extensive discussion. The House voted to return to the original text sent by the government related to Article 4, Clause 2, Paragraph “G,” which states: “Companies Control Department (CCD)’s controller must announce registration of any company on its website.” The bill’s mandating reasons feature 29 articles aimed to facilitate and streamline procedures related to conducting corporate business to spare time, effort and costs for companies and their shareholders. In addition, the draft contributes to enhancing competitiveness of the Kingdom’s business environment and stimulates registration of companies and foreign investments. Under the amendments, stability of legislation related to venture capital companies is ensured, while giving suspended and inactive companies the opportunity to rectify their status in accordance with this new law.
Source: Jordan News Agency