Stakeholder engagement on new Companies Act begins

The Registrar General Department (RGD) has begun a stakeholder engagement on draft legislation for the new Companies Act, 2019 (Act 992).

This comes after stakeholders begun making inputs into the legislative instrument to guide the implementation of the new company’s act which was passed by parliament during the last sitting.

The move is to ensure that there’s a smooth implementation of the new act to improve the ease of doing business in the country.

The Registrar General, Jemima Oware speaking at stakeholders’ event held in Accra said she was hopeful that expectations of companies especially Small and Medium Enterprises will be considered in the draft legislation before being sent to parliament.

“The main purpose of this meeting is therefore to present the draft regulations to you and solicit your valuable comments, suggestions, and contributions to improve the quality of this document, so that we can produce practical and effective regulations to guide us all in the implementation of the Companies Act 2019 (Act 992)”, she told the participants.

According to her, the overall goal had been to improve the efficiency of business registration services by simplifying and streamlining procedures for business registration and automating RGD functions.

She used the opportunity to urge all affected businesses to provide feedback on any of its regulations and laws in order for the department to serve them better.

She was optimistic this would also help in improving the country’s ranking on the ease of doing business report.

“I urge you to provide feedback and valuable comments on how we can improve this draft regulations to address any issues that may arise”, she added.