Company can use their premium in the social welfare. Because of corporate social responsibility company can use its premium amount in well being of society. # There should be section in the company act to stop the syndicate of unholy business because syndicate creates a lots of social and natural problems.
Sometimes it raises the price of product very high which is above the buying capacity of the public. It creates the artificial shortage of product. # The existing company act lacks any guidance or financial report. The act must include the financial process.
All the company must follow the same accounting process.We should make our auditing department more powerful so that no company can reduce its income to less its tax. There should be a co-ordination between companies act and financial reporting act 2010. We must ensure close monitoring. # The law should be supportive to small and medium enterprise. # As more and more investments are taking place in order to forming business in Bangladesh so the company act must be simple allowing doing business in lower cost.
The act should be clearly understood. The language used in the act must be easy and simple to read and decipher. In this case we can see the British act in which the sections are short, simple and clearly understand even though the total coverage of British company act is bigger than us.The registration of companies must be easy and quick. In our company act there are lots of complexity for registration of new companies.
There should be a system so that the registration can be obtained through horizontal way. To make the quick registration of company we can take the help of the internet.A company can change its memorandum to census transparency. To make it activities more transpirate and clean a company can add new subject in its memorandum and reduce subject from its memorandum. It would help both the shareholder and the company. It also improves the image and market value of the company.
# In most of the cases the amount of fine given in the act is very low as it was made in 1994. Now it is 2013. Many years had passed so we must increase the amount of fine because of time value of money of the value of 10000 TK in 1994 is more than the value of 10000 TK in 2013. So we must raise the amount of fine.
Because our companies are large. They are earning a lot of profit. So the amount of fine will be large in cause of fraud and misrepresentation.1.a) In the register of members the shareholder source of money to buy the share must be included. To stop the use of black money in the share market.
Sec 52 Every share holder must pay their called of money in the same date. In these section we see that the share holder who owns more share get more time. But the company is a democratic organization, Every share holder right is equal.Introduction:Letter of transmittal.
Acknowledgement. Executive summery. Why should we modify Co. ACT. Company Act 1994 should be modified because of our changing business trend.
Today’s business world is highly complex and competitive. Our company Act last modified in1994. So it is very difficult for our business organization to cope with these ACT. As our assignment is to modify Co.
ACT 1994 related to food and beverage industries in Bangladesh.
