Prescribe Timelines for the Registration Process of Partnerships in Relevant Regulations

 Reform Description  Timelines Prescribed for Registration of Partnerships Before: Businesses were facing uncertainty as registrations for partnership were made without following any timeframe and in majority cases it took more time than necessary.

After: The partnership registration process has been made time bound, now the registration is required to be done within the stipulated time.

Sector  All Sectors
Beneficiaries All Businesses
Jurisdiction/Location  Punjab
Department  Industries, Commerce & Investment Department, Punjab.
Date of Implementation 
Details Difficulty ●      There was no requirement in the law to complete the registration of the partnerships within a stipulated time frame.

●      The absence of timelines caused unwarranted delays in the registration and commencement of the businesses.

Analysis ●      It was agreed that there should be timelines within which a partnership business should be registered from the date of filling application for registration.
Solution  ●      Accordingly, the partnership registration process is made time bound.

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