National Assembly approves amendments to 2 industry regulations

KUWAIT, Nov 28 (KUNA) -- Kuwait's National Assembly passed in two readings the amendments to the law on the Kuwait Chamber of Commerce and Industry (KCCI), and the law regulating industry.
The first reading of the KCCI law was unanimously approved by the 57 MPs present at Tuesday regular session of the parliament while the second reading was voted by 54 MPs.
The session heard the report of the parliamentary committee on financial and economic affairs relating to the draft amendments of the KCCI law, and then discussed the suggestions of MPs in this regard.
The amended law stipulates, in one of its articles, that KCCI is a civil society non-profit institution with an artificial personality and under the jurisdiction of the competent minister.
All those who are listed in the commercial register or have industrial licenses are entitled to join the KCCI provided that they meet the requirements specified by the executive statutes of the institution.
Under the amended law, industrialists who fail to join the KCCI can by no means be denied of access to government services.
Today's session also saw 57 MPs the approval of the first reading of the amendment to Act 56 (1996) on industry and the second reading voted by 53 MPs. The amended law provides for the appointment of representatives of the National Fund for SME Development (the "SME Fund"), Competition Protection Agency (CPA) and the Kuwait Direct Investment Promotion Authority (KDIPA) at the board of directors of the Public Authority for Industry (PAI).
Under the old law, PAI board used to have four industrialists as members after being nominated by the KCCI but the new amendments entitle the minister of commerce and industry to nominate just one member in order to prevent conflict of interests. (pick up previous) kt.gb