1CHAPTER ONE General Introduction 1.1.Introduction Over the last couple of decades, quite a lot of countries have acknowledged the significance of smooth and efficient business start-up procedures. A functioning business registration system1 is viewed as an essential regulatory requirement of any economy, and in addition, a predictable, transparent and modern business registration system is recognized1to help promote private sector growth and job generation. Business registration represents the beginning of an economic life cycle for1entrepreneurs. The need for a system for the registration of business names, companies, various aspects of intellectual property law and anything incidental to the foregoing is one that has been acknowledged in many jurisdictions around2the world.
The patents and Companies Registration Agency Act No. 15 of 2010 of the Laws of Zambia was enacted to respond to the needs of the business community in a bid to create an efficient agency and amalgamating the mandate of the Registrar previously provided for under various pieces of legislation. The Act gives the Registrar the2authorization to oversee the administration of the Companies Act, Registration of Business Names Act, the Patents Act, the Trade Marks Act, the Registered Designs Act and the Companies2(Certificate3Validation) Act. The Patents and Companies Registration Agency Act is an Act which among other things creates the regulatory body called the Patents and Companies Registration Agency (PACRA).
This research study seeks to give a brief historical back ground as to what was prevailing prior to the Companies Act 2017and analyze the Companies Act 2017 with regard3ito Part 16, the Administration Act of Companies registered with regard to PACRA. Furthermore the statement of the problem and the significance of the study will put into perspective and will also highlight the methodology to be employed by the study. Thereafter, a conclusion will be drawn from the information that will be collected and analyzed.