SL to set MPR for fuel as China’s Sinopec enters market after state-run CPC and Inda’s LIOC
The first shipment of Chinese fuel supplier Sinopec, the third fuel supplier to enter the Sri Lankan fuel market after…
In the government’s endeavour to provide Ease of Doing Business, a central processing centre (CPC) has been established to process forms filled as part of various regulatory requirements under the Companies Act and the Limited Liability Partnership Act (LLP Act) in a centralised manner, requiring no physical interaction with the stakeholders.
From, twelve forms/applications as listed below shall be processed at CPC, followed by other forms from 1 April onwards. Later, forms/applications filed under the LLP Act are also proposed to be centralised. Based on filing trends, it is expected that about 2.50 lakh forms will be processed through CPC annually, once it is fully operational.
As of now, 4,910 forms have been received by CPC after commencing operations. The forms shall be processed in a time bound and faceless manner. Processing of applications at CRC and C-PACE also does not require any physical interaction with the stakeholders.
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The Central Registration Centre (CRC), Centralised Processing for Accelerated Corporate Exit (C-PACE), and CPC will ensure speedy processing of applications and forms filed for incorporation, closure and for meeting regulatory requirements so that the companies are incorporated, closed, can alter and raise capital, and are able to complete their various compliances under the corporate laws with ease.
After the establishment of CPC, the jurisdictional Registrar of Companies (RoC), will have to focus more on their core functions of inquiries, inspection and investigation for ensuring robust corporate governance.
Over the past many years, the Ministry of Corporate Affairs has taken several steps towards Ease of Doing Business.
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