Cabinet approves amendments to 2022 Companies Law

AMMAN — The Lower House on Sunday, during a session chaired by Speaker Ahmad Safadi and attended by Cabinet members, approved draft amendments to the 2022 Companies Law as submitted from the Chamber's Economy and Investment Committee.

The validating reasons for the draft law aim to facilitate procedures related to the conduct of companies' businesses, thereby reducing time, saving costs and effort for companies and corporate shareholders, with the goals of making Jordan’s  business environment more competitive, prompting the registration of companies and attracting foreign investments.

The validating reasons also included ensuring the stability of legislation relating to venture capital companies and giving suspended and ineffective companies the opportunity to correct their status in accordance with the provisions of the law, the Jordan News Agency, Petra, reported.