Financial Sector Legislative Reforms Commission Set up Companies Bill to be Introduced in the Ongoing Session

The Union Finance Minister, Shri Pranab Mukherjee announced today that the Government has set up a Financial Sector Legislative Reforms Commission under the Chairmanship of Justice B. N. Srikrishna in pursuance of the announcement made in Budget 2010-11. The Commission will rewrite and streamline the financial sector laws, rules and regulations and bring them in harmony with the requirement of a modern financial sector. It will complete its work in 24 months.

Shri Mukherjee also informed that the Companies Bill in the Parliament in 2009 has been received from the Parliamentary Standing Committee, which the Government proposes to introduce in the Lok Sabha in the current Session.