Finance Minister AHM Mustafa Kamal has said that the government is planning to amend the Companies Act so that one-person company can be registered as a company.
“Steps have been taken to improve business environment by making necessary amendments in the Companies Act, 1994. The mandatory provision of using ‘company seal’ for registering a company has already been withdrawn,” he said while placing the national budget for fiscal year 2020-21 in parliament on Thursday, reports BSS.
This year, he informed that the government will bring further changes in the act so that One Person Company can also be registered as a company.
“Besides, steps will be taken to introduce legal reforms in issues, such as faster business registration, dispute settlement, etc,” he added.
The finance minister has proposed a national budget of Tk568,000 crore for the next fiscal year, biggest in the country's history, in a bid to drive the government's efforts to salvage the economy battered by the Covid-19 epidemic and safeguard public health.