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Thursday, January 12, 2012 15:39
A parliamentary committee: Law firms in the Iraqi way of cancellation and the new more stringent
BAGHDAD / Baghdadiya News / .. revealed a member of the Economic Committee in the Iraqi parliament Bijari Nora, to provide the Council of Ministers to the Commission draft a new Companies Act, referring to the Commission, provided that he was seeing for changes to the previous law, not revoke it.
She told Bijari / Baghdadiya News /, that "some of the terms of the old Companies Act was actually needs to keep abreast of changes and amendments made to the economic and trade system in Iraq."
He added that "the parliamentary economic committee was surprised to provide the General Secretariat of the Council of Ministers a draft new law eliminates completely the previous law," stating that "The draft took a lot of radical changes that relate to the instructions of company registration and approval."
Bijari Lowey said that "the Commission is currently considering a draft Council of Ministers," afterthought to say, "but in the case of objections, the proposals will be adopted amendment to the old law."
And on the number of companies said that "the number of registered companies in Iraq exceeded the number of the 59 thousand companies, including nearly 1100 companies from Arab and foreign," noting that "the number of companies before 1990 was not Etjaosalosmanih thousands."
It showed that "since the latter date to 2003 the number of companies 23 000 company," pointing out that "the problem of registration of companies occurred after 2003, which exceeded the registrar of companies, domestic and foreign Arab and the 36 thousand companies, equivalent to what is recorded during the long decades of time. "
Questioned Bijari in "realistic all these numbers of companies," indicating that "there are companies that only have a record in the Department of Commerce does not have any activity that does not take into account the instructions in terms of assets and deposits, as well as specialization."
For its part, denied the director of registration of foreign companies in Iraq Hadi Hoda In previous statements, "the existence of front companies in Iraq, indicating that all the companies currently operating in the country registered with the registration of companies based in the capital Baghdad."
She Hadi that "there are committees to follow up the work of registered companies and to refer the violation of the laws of the courts are facing here the risk of cancellation and withdrawal of license," but admitted at the same time that "the number of listed companies exceeded 60 000, including more than 1 020 Arab and foreign companies."
And the nationality of foreign companies, said that "most of the foreign companies that had previously worked in Iraq during the past decades, such as auto companies and others returned to the arena of Iraq, and there is also a strong presence of Turkish companies and the Gulf, and most of them recorded contracts of partnership with local companies, according to its expression."
The Iraqi Ministry of Trade is responsible for the Registrar of companies and the department responsible for the enforcement provisions of the Companies Act National No. 21 of 1997 / as amended, and the Commercial Agency Law No. 51 of 2000, as well as the Companies Act No. 22 of 1997, as well as Regulation No. (5) for the year 1989 on registration of branches and offices of foreign companies. / End / 27.
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A parliamentary committee: Law firms in the Iraqi way of cancellation and the new more stringent
BAGHDAD / Baghdadiya News / .. revealed a member of the Economic Committee in the Iraqi parliament Bijari Nora, to provide the Council of Ministers to the Commission draft a new Companies Act, referring to the Commission, provided that he was seeing for changes to the previous law, not revoke it.
She told Bijari / Baghdadiya News /, that "some of the terms of the old Companies Act was actually needs to keep abreast of changes and amendments made to the economic and trade system in Iraq."
He added that "the parliamentary economic committee was surprised to provide the General Secretariat of the Council of Ministers a draft new law eliminates completely the previous law," stating that "The draft took a lot of radical changes that relate to the instructions of company registration and approval."
Bijari Lowey said that "the Commission is currently considering a draft Council of Ministers," afterthought to say, "but in the case of objections, the proposals will be adopted amendment to the old law."
And on the number of companies said that "the number of registered companies in Iraq exceeded the number of the 59 thousand companies, including nearly 1100 companies from Arab and foreign," noting that "the number of companies before 1990 was not Etjaosalosmanih thousands."
It showed that "since the latter date to 2003 the number of companies 23 000 company," pointing out that "the problem of registration of companies occurred after 2003, which exceeded the registrar of companies, domestic and foreign Arab and the 36 thousand companies, equivalent to what is recorded during the long decades of time. "
Questioned Bijari in "realistic all these numbers of companies," indicating that "there are companies that only have a record in the Department of Commerce does not have any activity that does not take into account the instructions in terms of assets and deposits, as well as specialization."
For its part, denied the director of registration of foreign companies in Iraq Hadi Hoda In previous statements, "the existence of front companies in Iraq, indicating that all the companies currently operating in the country registered with the registration of companies based in the capital Baghdad."
She Hadi that "there are committees to follow up the work of registered companies and to refer the violation of the laws of the courts are facing here the risk of cancellation and withdrawal of license," but admitted at the same time that "the number of listed companies exceeded 60 000, including more than 1 020 Arab and foreign companies."
And the nationality of foreign companies, said that "most of the foreign companies that had previously worked in Iraq during the past decades, such as auto companies and others returned to the arena of Iraq, and there is also a strong presence of Turkish companies and the Gulf, and most of them recorded contracts of partnership with local companies, according to its expression."
The Iraqi Ministry of Trade is responsible for the Registrar of companies and the department responsible for the enforcement provisions of the Companies Act National No. 21 of 1997 / as amended, and the Commercial Agency Law No. 51 of 2000, as well as the Companies Act No. 22 of 1997, as well as Regulation No. (5) for the year 1989 on registration of branches and offices of foreign companies. / End / 27.
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