The Companies Bill, 2017

Parliamentary Period: 
Second Session of the Twelfth Assembly

The object of this Bill is to—

(a) promote the development of the economy by encouraging entrepreneurship, enterprise efficiency, flexibility and simplicity in the formation and maintenance of companies;

(b) provide for the incorporation, categorisation, management and administration of different types of companies;

(c) provide the procedure for the approval of company names, change of name and conversion of companies;

(d) provide for shareholders’ rights and obligations, the conduct of meetings and the passing of resolutions by shareholders;

(e) encourage transparency and high standards of corporate governance by providing for the functions and obligations of company secretaries and directors;

(f) provide for issue of shares, share capital requirements, procedures for alteration and reduction of share capital and disclosure requirements of companies;

(g) provide for the public issue of shares, the issue and registration of charges and debentures;

(h) incorporate financial reporting provisions, maintenance of accounting records, and access to financial information of companies;

(i) provide for amalgamations;
(j) provide for the registration of foreign companies doing

business in Zambia;

(k) provide for the deregistration of companies;

(l) repeal and replace the Companies Act, 1994; and

(m) provide for matters connected with, or incidental to, the foregoing. 

Bill Stage: 
Presentation
First Reading