Home | Goldstreet Business
Monday, June 16, 2025
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
Gold Business Logo
No Result
View All Result

Kudos to Parliament for passing the Companies’ Act

May 8, 2019
in Uncategorized
0
Share on FacebookShare on Twitter

Last Thursday evening, Parliament passed the reviewed Companies Act, 2019 to deal exclusively with company registration and business regulation in the country.

The new Act – which awaits presidential assent replaces the Companies Act of 1963. In 2008, then government under the leadership of President John Kufour, in its quest to making the country an easeful environment of doing business, set up a Committee of experts to review the law governing business regulation and operation in the country – which was seen as an embodiment of laws governing corporate practices.

RELATED POSTS

Nurses and Midwives call off nationwide strike

Zoomlion Contract Will Not Be Renewed, Sweepers’ Fees to Increase—President Mahama

After more than a decade in the quest of instituting a Legislative Instrument (LI) to replace the old Bill, players at both the private and public sectors are now cautioned that there is a new window opening to ensure outmost compliance which seeks to enhance the business development of the country geared towards promoting good corporate governance practices in the country.

The Act, would now establish a new Office – Registrar of Companies, out of the existing Registrar-General’s Department (RGD) to deal exclusively with company registration and business regulation. This new office will be responsible for the appointment of inspectors and will assume the functions of the Official Liquidator under the Bodies Corporate (Official Liquidations) Act 1963.

One of the Institutions that has constantly spearheaded the need to ensure good corporate governance practices at both the private and public sectors of the economy is the Institute of Directors (IoD), as a number of their efforts have now been incorporated into the revised Act.

After a presidential assent of the Act, it would make it obligatory for shareholders and owners of public and private institutions respectively to provide verifiable evidence during the course of submitting annual returns, to prove that their board of directors have undergone training and certification in corporate governance.

The Institute therefor deserves thumbs up for liaising with the Registrar General Department to ensure the current state of the Companies’ Act, not forgetting the great works the Committee on Constitutional, Legal and Parliamentary Affairs of Parliament played in this regard.

Another major enactment in the new Act is the institutionalization of Beneficiary ownership regime. This process would assist in tracking Ghana’s extensive beneficiary ownership in the business sector to know the real owners behind the establishment of businesses.

What this entails is that, owners and shareholders of companies who deliberately hide or misrepresent information on beneficiary ownership in the course of registering their businesses would face some punitive actions including going to jail or other appropriate sanctions meted out to them.

According to the Registrar General Department, beneficiary ownership data submitted in the process of registering businesses will thoroughly be investigated to ensure that the information provided is completely factual. This is meant to enable people who wish to carry out any business transaction with other companies to carry on without having any challenges.

Goldstreet Business believe that since Parliament has passed the Act, it is prudent that the President appends his signature in order to set the Law in motion. What this Paper would want to add is the issue of compliance. It is another idea to have better LI in place, and another measure in ensuring that what has been incorporated in the Law is put into Practice. Compliance is key to ensure the success of this Act.

facebookShare on Facebook
TwitterTweet
ShareTweetShare

Related Posts

Nurses and Midwives call off nationwide strike

Nurses and Midwives call off nationwide strike

June 13, 2025
Zoomlion Contract Will Not Be Renewed, Sweepers’ Fees to Increase—President Mahama

Zoomlion Contract Will Not Be Renewed, Sweepers’ Fees to Increase—President Mahama

June 13, 2025
Ghana Nets Over $1.17 Billion in Forex from Goldbod Programme – Finance Minister

Ghana Nets Over $1.17 Billion in Forex from Goldbod Programme – Finance Minister

June 5, 2025
FDA boss elected first Director-General of African Medicines Agency

FDA boss elected first Director-General of African Medicines Agency

June 5, 2025
Importers and Exporters Association calls on President Mahama to terminate ‘wasteful’ SML contract

Importers and Exporters Association calls on President Mahama to terminate ‘wasteful’ SML contract

June 5, 2025
Next Post

Curbing disaster involving LPG leak ...Blue Ocean Investments holds emergency drill involving LPG leak

How tech is attracting young people into farming

Archives

<
June 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • August 2024
  • July 2024
  • June 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
▼
>
MonTueWedThuFriSatSun
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
     12
3456789
10111213141516
17181920212223
2425262728  
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
   1234
567891011
12131415161718
19202122232425
262728293031 
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
   1234
567891011
12131415161718
19202122232425
26272829   
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
  12345
6789101112
13141516171819
20212223242526
2728     
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
 123456
78910111213
14151617181920
21222324252627
28      
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
1234567
891011121314
15161718192021
22232425262728
       
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
     12
3456789
10111213141516
17181920212223
242526272829 
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
    123
45678910
11121314151617
18192021222324
25262728   
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       

RECOMMENDED

Nurses and Midwives call off nationwide strike

Nurses and Midwives call off nationwide strike

June 13, 2025
Zoomlion Contract Will Not Be Renewed, Sweepers’ Fees to Increase—President Mahama

Zoomlion Contract Will Not Be Renewed, Sweepers’ Fees to Increase—President Mahama

June 13, 2025

MOST VIEWED

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Energy
  • Health
  • Auto
  • International
  • Subscription Form
  • Staff Webmail
  • About Us
  • Contact Us
Call us: +233 24 432 0902 | info@goldstreetbusiness.com

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

No Result
View All Result
  • Homepages
    • Homepage Layout 1
    • Homepage Layout 2
  • World
  • Business
  • Technology
  • Health

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.