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Companies Act No. 10 of 2017.

Country/Territory
Zambia
Document type
Legislation
Date
2017
Source
FAO, FAOLEX
Subject
General
Keyword
Basic legislation Access-to-information Business/industry/corporations Liability/compensation Data collection/reporting Financing Governance Internal trade International trade Legal proceedings/administrative proceedings Non-governmental entity Procedural matters Registration
Geographical area
Africa, Eastern Africa, Landlocked Developing Nations, Least Developed Countries
Entry into force notes
This Act enters into force on a date that the Minister may appoint by Statutory Instrument.
Abstract

This Act consisting of 377 articles aims at (i) promoting the development of the economy by encouraging entrepreneurship, enterprise efficiency, flexibility, and simplicity in the formation and maintenance of companies; (ii) providing for the incorporation, categorization, and management of different types of companies; (iii) providing the procedure for the approval of company names, change of name and conversion of companies; (iv) provide for shareholders‘ rights and obligations, and the passing of resolutions by shareholders; (v) encouraging transparency and high standards of corporate governance. It also provides for (i) the issue of shares, share capital requirements, procedures for alteration and reduction of share capital and disclosure requirements of companies; (ii) the public issue of shares, registration of charges and debentures; (iii) the incorporation of financial reporting provisions, maintenance of accounting records, and access to financial information of companies; (iv) the registration of foreign companies doing business in Zambia; (v) the deregistration of companies.

Full text
English
Website
osall.org.za