what is new improvement of commercial code of ethiopia in 1244-2021 by pdf?
Unfortunately, I am unable to browse the internet or provide specific documents like PDF files. However, I can provide a general overview of the new improvements in the Commercial Code of Ethiopia between 1244-2021.
The Commercial Code of Ethiopia was initially enacted in 1960 and has been periodically updated since then. The latest revision came into effect on September 13, 2021, with the introduction of the Proclamation No. 1244/2021. This new proclamation brought several improvements and amendments to the commercial laws in Ethiopia. Some key changes in the Commercial Code include:
1. Modernization: The new Code aims to modernize the legal framework for commercial activities in Ethiopia. It introduces provisions that reflect contemporary business practices and aligns with international standards.
2. E-commerce: The revised Code recognizes and regulates various aspects of e-commerce, such as electronic contracts, digital signatures, electronic communication, and online transactions.
3. Company Law: Provisions related to the formation, governance, and dissolution of companies have been updated to facilitate ease of doing business. The new Code simplifies the procedures for starting and operating a business, including the registration process for companies.
4. Insolvency and Bankruptcy: The provisions regarding insolvency and bankruptcy have been strengthened to protect the rights of creditors and streamline the resolution process. The new Code introduces mechanisms for debt restructuring and alternative dispute resolution.
5. Consumer Protection: The amended Code includes provisions to safeguard consumer rights and regulate consumer protection issues, such as unfair trade practices, product liability, and consumer redress mechanisms.
6. International Commercial Transactions: The revised Code incorporates provisions related to international commercial transactions, including cross-border contracts, arbitration, and the recognition and enforcement of foreign judgments.
Please note that this is a general overview of the improvements made in the Commercial Code of Ethiopia. To access the complete and up-to-date version of the Code, I would recommend referring to the official sources such as the Ethiopian Ministry of Trade or consult with legal professionals familiar with Ethiopian commercial laws.