New Companies Bill
The draft amendment to the Companies Act contains some significant advances in enforcing corporate transparency to combat corruption and inequality. These take the form of new disclosures that public companies will have to make on their comparative remunerations and their beneficial ownership. They will be obliged to put into their annual reports and present to shareholders for approval. But the Bill does not require companies to make the information easily available to journalists and the public through their websites.
In its submission the parliamentary committee, CEF welcomes the Bill and urges it to be passed into law, but calls for further steps to ensure the information is made more accessible.
Read more: Submissions on the bill test business’ commitment to stopping corruption