(MENAFN- Jordan Times) AMMAN — Lawmakers approved the amended Corporate Law which encourages 'entrepreneurship and small businesses' during a legislative session held on Sunday.
The amended law allows the establishment of new venture capital companies in the Kingdom, to be regulated by an order to be issued to organise capital, business, management and profit distribution, the Jordan News Agency, Petra, reported.
The amended law presented the principle of 'proportional voting' for the election of the company boards of directors, so that the votes of each shareholder are equal to the number of shares in the company.
The law also allows the invitation of shareholders to attend the meetings of the General Assembly by modern electronic means, according to the law of electronic transactions, instead of registered mail.
Members of the Lower House and the government also observed a minute of silence to pay tribute to police officer Ja'far Al Rababa'a, who was shot dead on Saturday in downtown Maan, some 220km south of Amman.
Tarawneh adjourned the session until Tuesday, when deputies are due to hold two legislative sessions to discuss oversight and inspection on the Economic Activities Law, Petra added.
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