Innovations and Shortcomings of the New Commercial Bill

Dr. Behnam Ghaffari 


The Government and the Parliament, in recent years, have been seeking to replace the currently in force Commercial Act, because it is too old and does not meet today's needs. In this context, after many ups and downs, an Act entitled "the Commercial Bill" was approved by the Judicial and Legal Commission of the Parliament in January 2012. In April 2012, and according to Principle 85 of the Constitution of I.R. Iran, the Parliament agreed with the tentative and temporary implementation of this bill for five years. But the Guardian Council rejected the necessity of applying this Principle and returned it to Parliament. The Bill is currently passing the final stages of review and approval in the Parliament. 
At this period of time, this study is aimed at analyzing the Bill's provisions, and endeavors to compare it to the current Commercial Act. It will also identify its innovations and shortcomings. Then, it will strive to suggest appropriate amendments to overcome the shortcomings of the Bill.


Commercial Act, the Commercial Bill, Corporate Law.

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