Bill: Proposed Amendment to the Business Reform Act

[xXLordLyonXx]

Author: Lysander Lyon, MP
Sponsor: N/A
Type: Act of Parliament

A
BILL
TO
Amend the Business Reform Act​

1. Short Title
(a) This bill shall be referred to as the "Amendment to the Business Reform Act".
(b) This bill was authored by Lysander Lyon.

2. Corrections
(a) Section 4c shall be amended to “Existing businesses may also choose to go public, filing the same information in the subparts of Section 2a4a, so long as majority approval of any existing owners/shareholders exists.”
(b) Section 10d shall be amended to “If a limited company is majority-owned by one entity, that entity shall be responsible for electing the highest executive outlined in Section 4g5g, while the non-majority shareholders will be responsible for electing the Shareholder Representative outlined in Section 4h5h.”

3. Private Enterprises
(a) A new section, Section 15, shall be created, as follows:

15. Private Enterprises
(a) Private enterprises may be created by citizens at any time.
(b) As outlined in Section 11g, the owners of private enterprises are legally responsible for their private enterprises.
(c) Private enterprises may own assets, including other companies or shares of limited companies, and operate as a normal business.
(d) Private enterprises may not publicly trade ownership or equity in the company, as limited companies are able to do, and are subject to fines if in violation.

Enactment: This Act comes into force immediately upon passage.