A joint Senate panel comprising its Legal, Financial and Economic Committees on Tuesday endorsed a draft bill amending the 2017 draft Companies Law as referred to it by the Lower House.

The bill regulates the work of companies through applying the governance rules guide, expanding the powers of shareholders in public joint stock companies and canceling the combination of the posts of the board chairman and director general of a company.

It also regulates the business environment by introducing a new model of firms and providing the legal needs to create and establish venture capital, in addition to helping ailing companies to handle their situations.

Source: Fana News