Member of the Economic Commission: Amendment of Certain para

[Stillw8n]

Member of the Economic Commission: Amendment of Certain paragraphs of the Companies Act to facilitate investment and large projects

Revealed by the Economic Commission for coalition, the Iraqi deputy Nora Salem for an amendment of some paragraphs of the Companies Act by the Commission, although a new law proposal by the Council of Ministers of the companies.

The Salem (of the Agency news) said on Monday: The Economic parliamentary sessions and seminars held constant to amend the Companies Law No. (1) of the year (1997) as a first step to amend all paragraphs of the law to serve the local businesses.

She explained: that the amendment includes a permit to open branches of international companies in the country and dealing with local companies such as partnerships, investment, etc., as well as facilitate the procedures for the granting of large projects in the country to local companies.

She added that the law of companies tainted by a lot of paragraphs unjust right of local companies and most companies are not registered in the Ministry of Commerce and this amendment will ensure that its registration.

She pointed out: that the General Secretariat of the Council of Ministers has proposed a new law special attention to the companies, but so far not been handed over to the House for discussion and voting on it, noting it will amend the old law and work on it until the new law issued by the Council of Ministers.

http://bit.ly/yxGcQ5