Companies Act, 2017

PART-XIII

GENERAL

Companies Act, 2017 PART-XIII GENERAL From: 2023-11-01 - To: 0000-00-00 1[***] _______________________________________________________________________ 1-Section 458A inserted by Companies (Amendment) Ordinance, 2020 dated April 30, 2020, which lapsed after 120 days. Read as: “458A. Measures for greater ease of doing business- Notwithstanding anything contained in this Act or in any other law for the time being in force, the Commission may implement measures for providing greater ease of doing business, improving regulatory quality and efficiency and facilitating innovation and the use of technology in conducting business by the corporate sector, including but not limited to- (a) formalizing existing practices through regulations and implementing other measures for attaining international standards of regulatory quality and efficiency for greater ease of doing business; (b) specifying modes and procedures for enabling greater ease of entry into and exit from the market to startup companies; (c) constituting special task groups from the corporate sector for encouraging the use of financial technology in the conduct of business; (d) creating environments for testing and examining the impact of innovation, new processes or technologies outside the existing regulatory framework including but not limited to crowdfunding, digital assets, open application programming interface (APIs), smart contracts, cloud based solutions and allowing the establishment and use of regulatory sandboxes; (e) encouraging…