The government has tabled a bill that is expected to relieve the crowded calendar for the renewal of registration of businesses.
The Business Names (Registration) (Amendment) Bill 2012, in the name of Finance Minister Dr Ashni Singh, was read for the first time on Thursday in the National Assembly. According to its explanatory memorandum, the bill seeks to amend the Business Names (registration) Act by allowing for the annual date for registration of business names of firms or persons to be staggered to not later than 15 days after the anniversary of the date of the registration. Currently renewal of registration is done not later than the 15th day of January in every year. “The effect of the Bill will be beneficial in staggering the renewal of registration of business names, thus avoiding long lines and delays,” the explanatory memorandum says.
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