Circular No. 04 dated 24 May 2023 issued by the Department of Financial Institutions and Markets of the Bangladesh Bank on “Identification as a Public Limited Company under the Companies (2nd Amendment) Act, 2020”June 1, 2023
Under the 2020 amendment of the Companies Act 1994, all public limited companies must add “PLC” at the end of their company name. Therefore, they have to modify their memorandum and articles of association accordingly. In order to identify public limited companies, Bangladesh Bank has issued a circular based
The circular issued by the Bangladesh Bank eases the rules for financial institutions to make it easier for them to make this change. Previously, financial institutions had to obtain a No Objection Certificate from the Bangladesh Bank before making changes to their memorandum and articles of association. The circular eliminates that requirement.
Now, once the memorandum and articles of association have been amended, the financial institution must submit a certified copy of these documents, along with their The Registrar of Joint Stock Companies and Firms (RJSC) certificate, to the Department of Financial Institutions and Markets at the Bangladesh Bank.