Automation of the Company Registry and Associated Legal Reforms in Lesotho <br />The Ministry of Law and Constitutional Af...
Background<br />“.. to harness new growth opportunities and attract FDI, Lesotho needs to become competitive, particularly...
Background<br />In 2007, the Government of Lesotho launched a 5 year World Bank funded  Private Sector Competitiveness and...
How Do We Improve Business Environment?<br /><ul><li>Company Registration and Business Licensing Reform.
Immigration and Passport Service Reform.
Improving Access to Finance.</li></li></ul><li>Company Registration and Licensing Reform<br />Consolidation of business re...
 Computerization of the Company Registry<br />
Activities<br />Design and installation of an integrated and computerized system for notification and company registration...
MAIN SCREEN   <br />
Main Additions & Enhancements	<br />Name Reservations<br />Company Status Tracking<br />Improved Information about shareho...
Key Deliverables	<br />Fully Functional Database System<br />Data Storage Server<br />Local Area Network<br />Antivirus pr...
Project 	Achievements<br />Computerization of records and operations<br />Trained Staff and Management<br />Improved Infra...
Challenges	<br />Data Capture not yet completed.<br />The System not yet used optimally in the operations.<br />Full syste...
      GATEWAY FOR KEY SYSTEM MODULES<br />
     SECURE RECORDS MODIFICATION<br />
NAME RESERVATION<br />
COMPANY REGISTRATION<br />
MEMBERS OF AN ASSOCIATION<br />
CERTIFICATE OF INCORPORATION<br />
A sample of a report of registered companies<br />
SAMPLE COMPANIES LIST<br />
SEARCH FACILITY<br />
Progress on Companies Bill<br />
Companies Bill: The Process  <br />The process has taken more than a decade.<br />The latest effort to finalize the Bill s...
Features of the Companies Bill<br />The Bill is more elaborate as it clearly defines the relationship between shareholders...
Features of the Companies Bill Cont.<br />Legal assistance is not required to register a company as the procedures are now...
Features of the Companies Bill Cont.<br />Removes cumbersome requirements in the Memorandum and Articles of Association. O...
Features of the Companies Bill Cont.<br />A Woman is entitled to act as a promoter or to be a director of a company withou...
Features of the Companies Bill Cont.<br />Companies are entitled under the new law to file electronically. This expedites ...
Features of the Companies Bill Cont.<br />Dealing between company and other persons – The Bill does away with the principl...
Upcoming SlideShare
Loading in...5
×

7.3 automation of company registry (lesotho)

1,607

Published on

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
1,607
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
6
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

7.3 automation of company registry (lesotho)

  1. 1. Automation of the Company Registry and Associated Legal Reforms in Lesotho <br />The Ministry of Law and Constitutional Affairs in collaboration withthe Ministry of Trade and Industry, Cooperatives and Marketing<br />
  2. 2. Background<br />“.. to harness new growth opportunities and attract FDI, Lesotho needs to become competitive, particularly within SACU, where Lesotho performs the worst in terms of Doing Business Indicators ( position 130th in 2009). Lesotho can address this problem by removing such barriers to economic activity as a weak business environment…” Draft WB CAS, 2010<br />
  3. 3. Background<br />In 2007, the Government of Lesotho launched a 5 year World Bank funded Private Sector Competitiveness and Economic Diversification Project (PSC Project). <br />The objective of the PSC Project is to facilitate increased private sector investment by improving business environment and diversifying sources of growth. <br />
  4. 4. How Do We Improve Business Environment?<br /><ul><li>Company Registration and Business Licensing Reform.
  5. 5. Immigration and Passport Service Reform.
  6. 6. Improving Access to Finance.</li></li></ul><li>Company Registration and Licensing Reform<br />Consolidation of business registration process which will enable Company Registry to improve its effectiveness to provide information to the public and private sectors. <br />Review of the Companies Act of 1967.<br />Streamlining of industrial and trading licensing regimes to reduce time and cost of doing business and to restrict the process to necessary regulatory requirements. <br />Review business licensing laws and associated regulations.<br />
  7. 7. Computerization of the Company Registry<br />
  8. 8. Activities<br />Design and installation of an integrated and computerized system for notification and company registration<br />Purchase of computer equipment and associated software <br />Design and conduct of training programs for the staff of the Registrar General’s Office<br />Operation and maintenance of the installed IT systems; <br />Transfer of the CR from Law Office to OSS at the Ministry of Trade.<br />Expected Results<br />A modern and efficient Company Registry established and consolidates all business registration processes;<br />The time required for registration significantly reduced.<br />
  9. 9. MAIN SCREEN <br />
  10. 10. Main Additions & Enhancements <br />Name Reservations<br />Company Status Tracking<br />Improved Information about shareholders<br />Miscellaneous Management Reports<br />
  11. 11. Key Deliverables <br />Fully Functional Database System<br />Data Storage Server<br />Local Area Network<br />Antivirus protection<br />End-User and Management Training<br />Support contract (on-going)<br />
  12. 12. Project Achievements<br />Computerization of records and operations<br />Trained Staff and Management<br />Improved Infrastructure<br />Potentially enhanced operational efficiency<br />
  13. 13. Challenges <br />Data Capture not yet completed.<br />The System not yet used optimally in the operations.<br />Full system usage on a daily basis.<br />More management commitment required.<br />Regular review of system and project progress needed.<br />
  14. 14. GATEWAY FOR KEY SYSTEM MODULES<br />
  15. 15. SECURE RECORDS MODIFICATION<br />
  16. 16. NAME RESERVATION<br />
  17. 17. COMPANY REGISTRATION<br />
  18. 18.
  19. 19. MEMBERS OF AN ASSOCIATION<br />
  20. 20. CERTIFICATE OF INCORPORATION<br />
  21. 21. A sample of a report of registered companies<br />
  22. 22. SAMPLE COMPANIES LIST<br />
  23. 23. SEARCH FACILITY<br />
  24. 24. Progress on Companies Bill<br />
  25. 25. Companies Bill: The Process <br />The process has taken more than a decade.<br />The latest effort to finalize the Bill started through World Bank’s assistance in 2006.<br />The draft Bill was presented to Cabinet in March, 2010.<br />The Bill to be presented to Parliament by May, 2010.<br />Enactment by September, 2010.<br />
  26. 26. Features of the Companies Bill<br />The Bill is more elaborate as it clearly defines the relationship between shareholders and directors; <br />It brings out the aspect of protection clearly; <br />It addresses responsible and efficient management; <br />It removes the controlling aspect of the company/directors and introduces fair dealings between the shareholders and directors.<br />
  27. 27. Features of the Companies Bill Cont.<br />Legal assistance is not required to register a company as the procedures are now easier and simpler.<br />Less paper work. <br />The structure of the Bill allows for easy navigation. <br />
  28. 28. Features of the Companies Bill Cont.<br />Removes cumbersome requirements in the Memorandum and Articles of Association. Only one document is required, namely, Articles of Incorporation.<br />
  29. 29. Features of the Companies Bill Cont.<br />A Woman is entitled to act as a promoter or to be a director of a company without her spouse’s consent.<br />
  30. 30. Features of the Companies Bill Cont.<br />Companies are entitled under the new law to file electronically. This expedites the application process.<br />
  31. 31. Features of the Companies Bill Cont.<br />Dealing between company and other persons – The Bill does away with the principle of constructive notice or knowledge and relaxes the ultra vires doctrine. <br />The principle of ultra vires restricts companies to engage in those business activities contained in their Memorandum and only those related to such activities.<br />
  32. 32. Next Steps<br />Support and Maintenance of the Company Registry.<br />Refresher Training for Company Registry Staff.<br />Enactment of the new Companies Law.<br />IT/Business Process Alignment (i.e., tailoring the database to the upcoming new Companies act) and integration with the OSS.<br />
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×