The Companies Bill, 2024 (Bill N.5 of 2023).

The object of this Bill is to provide for – (a) the efficient registration and incorporation of companies on electronic and online platforms; (b) economically efficient and economically enhancing flexible and adaptable company structures; (c) the application of modernised rules in the regulation of companies; (d) procedures for the efficient and orderly closing of a company including liquidation, receivership and voluntarily ceasing to do business; (e) compulsory identification of beneficial owners, assessing liability against shadow directors, and prohibiting the issuance of bearer shares; (f) the repeal of Companies Act 2009; and (g) incidental matters.