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Sunday, 11 June 2017

Cabinet approves amendments to Companies Act and others during weekly meeting

The Ismail government signed off on amendments to the Companies Act during its weekly meeting on Thursday, according to a statement. The amendments, which were first instituted by the Investment Ministry last month, would see companies required to make a first call for a general assembly at least 21 days in advance. The amendments also include a new clause governing sole proprietorships, which aims to encourage SMEs, in addition to putting in place a system to allow companies to be established electronically. Other key decisions taken during the meeting include:

  • Agreeing to study the possibility of establishing a holding company to collect and recycle waste within three months;
  • Approving amendments to the Civil Status Act to connect citizens’ national ID number with the services they are entitled to;
  • Approving amendments to the law establishing the National Authority for Quality Assurance and Accreditation of Education;

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