Corporate Laws Amendment Bill [B6B-2006]: finalisation

ECONOMIC AND FOREIGN AFFAIRS SELECT COMMITTEE
29 August 2006
CORPORATE LAWS AMENDMENT BILL [B 6B-2006]: FINALISATION

Chairperson: Ms N Ntwanambi (ANC, Western Cape)

Documents handed out:
Corporate Laws Amendment Bill [B6-2006] - as introduced on 21 April 2006
Corporate Laws Amendment Bill [B6B-2006] as amended by the Portfolio Committee
Proposed Amendments to Corporate Law Amendments Bill

SUMMARY
The Committee approved the Bill and recommended further amendments to it. These amendments will need to approved by the Portfolio Committee on Trade and Industry.

MINUTES
The Chairperson reminded members that proceedings would be constrained due to the impending plenary session in the NCOP chamber in thirty minutes.

The Department of Trade and Industry explained to the Committee that this was a section 75 Bill and so the new proposed amendments would need to be approved by the Portfolio Committee on Trade and Industry. Thereafter, the positive aspects of the Bill were noted. The Bill was necessary because the current legislation was outdated and this Bill would enhance that legislation.

After approving the Bill with amendments, the meeting was adjourned.