The sub-committee has been entrusted to submit a report on the amendment bill within 15 days after holding discussions and consultations with the lawmakers who have registered their amendment proposals on the bill.
A total of 21 lawmakers have registered 52 amendment proposals on the draft bill that the government tabled on the parliament in the last week of December last year. The full house committee has forwarded the amendment bill to the finance committee to finalize it.
Civil Bank's Chairman Ichchha Raj Tamang and Prime Commercial Bank's Chairman Umesh Shrestha, who are also the members of parliament, have also registered amendment proposals. The two lawmakers have, among others, proposed removing a clause in the bill that restricts a chairman of any BFI to remain at the post for more than two terms.
Speaking at the discussion on Monday, Tamang said that restricting a chairman or board director from assuming the post for more than two terms was against a democratic practice. "Establishment of businesses and firms has been ensured as people's fundamental rights. However, the amendment bill discourages investors, going against the spirit of the Company Act," he argued.
Some lawmakers have also flayed the proposal to remove a provision of five percent share allocation of a bank to its staff from the amendment bill. "Earlier there was a clear provision where five percentage points of 30 percent shares set aside for public issue was allocated for the staff of bank. The amendment bill removes such provision. You cannot deny the perks and facilities that a staff has been enjoying," lawmaker Prabhadevi Acharya, who has registered amendment proposal to reintroduce such provision, said in the discussion.
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