Parliament passes bill to amend commercial code

  • National Assembly
Luanda – National Assembly (Parliament) approved on Wednesday a Bill to amend the Commercial Code.

The six-chapter document was passed by specialty commissions of National Assembly, with 25 votes in favor, non abstentions and non against. 

The Bill will be submitted to the plenary of National Assembly on 19th January for a final global vote.

The document scraps the obligation to legalise the minutes books of the companies by the commercial registry, as this  procedure falls under responsibility of the members of corporate body or the chairman of the board of the general shareholder meeting, aimed at creating a good business environment in Angola. 

The new Law will help cut administrative red tape, as part of reform to boost the business environment, said the State Secretary for Justice, Orlando Fernandes, to the press, adding that initiative will legitimise the bodies of companies in legalising the minute book. 

The six-chapter document was passed by specialty commissions of National Assembly, with 25 votes in favor, non abstentions and non against. 

The Bill will be submitted to the plenary of National Assembly on 19th January for a final global vote.

The document scraps the obligation to legalise the minutes books of the companies by the commercial registry, as this  procedure falls under responsibility of the members of corporate body or the chairman of the board of the general shareholder meeting, aimed at creating a good business environment in Angola. 

The new Law will help cut administrative red tape, as part of reform to boost the business environment, said the State Secretary for Justice, Orlando Fernandes, to the press, adding that initiative will legitimise the bodies of companies in legalising the minute book.