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Staff Reporter THE Business and Intellectual Property Authority (BIPA) has announced an extension for the submission of comments and inputs regarding the country’s comprehensive corporate law overhaul. The legislation, officially titled the Corporate Laws Bill of 2025, seeks to reform company law and strengthen Namibia’s corporate legal framework. The original deadline for submissions, previously tabled in the public notice, has been extended to December 31, 2025. BIPA urges all stakeholders and members of the public to utilise this additional time to contribute valuable insights and recommendations. The legislation is crucial, as it addresses various aspects of corporate governance, including directors’ standards of conduct and liability, business names, auditors, and audit committees, and aims to modernise the existing framework. The Corporate Laws Bill of 2025 is designed as a comprehensive overhaul and modernisation of Namibia’s existing company law. The core purpose of the proposed legislation, as stated in the Bill’s preamble and objectives, is twofold: to reform company law and restate the greater part of the enactments relating to companies, and to promote the realisation of the fundamental freedom to practise any profession, or carry on any occupation, trade or business. Key areas the Bill aims to address and improve include: Modernising Business Structures: The legislation aims to make provisions relating to other forms of business organisation, specifically seeking to modernise and re-enact the Close Corporations Act, 1988, by replacing it with provisions governing Closely Held Companies (CHCs). Strengthening Governance and Accountability: A major focus is on making provision about directors’ standards of conduct and liability, as well as detailing requirements for business names, auditors and audit committees. Facilitating Business Rescue: The Bill establishes a robust framework for “business rescue” proceedings. The purpose of this process is to facilitate the rehabilitation of viable companies that are financially distressed, aiming to maximise the likelihood of the company continuing in existence on a solvency basis. If solvency is not possible, the goal is to achieve a better return for creditors or shareholders than would result from immediate liquidation. Ensuring Regulatory Efficiency and Transparency: The Bill sets out the objectives of the Business and Intellectual Property Authority (BIPA) in this context, focusing on the efficient and effective registration of companies and the maintenance of accurate, up-to-date and relevant information to promote compliance and enforcement. Interested parties can access the Law Reform Bill on the BIPA website at https://www.bipa.na/law-reform-bill/. All final submissions must be made no later than December 31, 2025. Queries regarding the bill should be directed via email to CorporateLawsBillComments@bipa.na. Photo: BIPA
