The Anti-Corruption Commission (ACC) has released a white paper on the establishment, management, and accountability of companies.
The main objective of the paper is to collect information on company founders and understand the legal framework currently in place to respond to cases of corruption and laundering in connection with corrupt practices within companies. The paper will also be used to identify steps to further strengthen the process involved in the formation, registration, and management of companies and provide advice and guidance for legal reforms.
The white paper presents 18 administrative and legislative recommendations to address the issues identified by the study. The paper has now been published on the ACC website.
At the ceremony held to launch the white paper, Registrar of Companies Mariyam Visam highlighted the main difficulties currently encountered in regulating companies and what can be done to solve them. She also noted that white papers such as the one formulated by ACC are important.
Also at the ceremony, Vice President of ACC Abdul Salaam highlighted the significant work being conducted by the ACC research team. He also shared details of the commission's work in the past year and seven months.