Angola: Parliament Passes Three Draft Law's Opinion Reports

Luanda — Angola's National Assembly approved Monday in specialty the opinion reports of three Draft Laws, which will be submitted to the final global vote later this month.

The MPs unanimously approved the proposed Law on the Legal Regime of Securities and Registration of Securities; amending the Commercial Code and the Companies and Insolvency Recovery Code.

The Bills aim to improve the business environment in Angola, at its most varied levels, taking into account the advantages that the three "structuring documents" may provide, said the Secretary of State for Justice, Orlando Fernandes.

"Private investments take place in the countries where there are conditions in terms of the business environment, as these three Laws are aligned in that sense," he said.

As for the Insolvency Law, Orlando Fernandes stressed that the existing system is currently outdated, as a company that is in bankruptcy is soon closed.

"The objective is to recover and revive the dormant companies, before becoming insolvent", he stressed.

The process will be applied to all companies in the country.

The MPs unanimously approved the proposed Law on the Legal Regime of Securities and Registration of Securities; amending the Commercial Code and the Companies and Insolvency Recovery Code.

The Bills aim to improve the business environment in Angola, at its most varied levels, taking into account the advantages that the three "structuring documents" may provide, said the Secretary of State for Justice, Orlando Fernandes.

"Private investments take place in the countries where there are conditions in terms of the business environment, as these three Laws are aligned in that sense," he said.

As for the Insolvency Law, Orlando Fernandes stressed that the existing system is currently outdated, as a company that is in bankruptcy is soon closed.

"The objective is to recover and revive the dormant companies, before becoming insolvent", he stressed.

The process will be applied to all companies in the country.

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