Prescribe Timelines for the Registration Process of Partnerships in Relevant Regulations |
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Reform ID | P031 | |
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. |
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Sector | All Sectors | |
Beneficiaries | Partnership 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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