Govt decides to amend Companies Act to comply with FATF conditions

0 232

Get real time updates directly on you device, subscribe now.

ISLAMABAD (City News) – Government has decided to amend Companies Act 2017 in order to comply with conditions of Financial Action Task Force (FATF).

According to sources, the proposed amendments in the act will put an end to anonymous companies as disclosing real owner of the company and its subsidiaries will be mandatory under section 123. Details of major shareholders benefiting from the companies will have to be disclosed while banned organizations will not be allowed to buy shares under section 60-A.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More