* Directed to amend the Companies Act
BAGHDAD – Al Sabah
described member of the Economic Commission Attorney Nora Salem Companies Law No. (1) of the year (1997) that it is unfair to local companies, pointing to, and there are efforts to modify some of its paragraphs, despite the proposal of a new law by the Council of Ministers of the companies.
The Salem: The Economic Commission representative held meetings and seminars are continuing to an amendment to the Companies Law No. (1) of the year (1997) as a first step to amend all paragraphs of the law to serve the Iraqi companies, local communities. She explained: The amendment includes allowing the opening of branches of international companies in Iraq and dealing with Iraqi companies, as well as facilitate the procedures for the granting of large projects in the country to local companies. She’s (news): The Companies Act was tainted by a lot of paragraphs unjust right of local companies that suffer a lot of them because of lack of registration in the Department of registration of companies under the Ministry of Commerce, this amendment will ensure that the record companies in the ministry . She pointed out: that the General Secretariat of the Iraqi Council of Ministers proposed a new special for companies, but so far not been handed over to the House for discussion and voting on it, and followed, will modify the old law and work until the new law issued by the Council of Ministers
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