On 18 March 2020, the Business Laws (Amendment) Act, 2020 (No. 1 of 2020) entered into force. The Act introduces several amendments that integrate digital processes into legal and business operations, impacting the private sector. Key changes include the recognition of electronic and advanced electronic signatures in the Law of Contract Act, Registration of Documents Act, Survey Act, and Land Registration Act, enabling the electronic execution and registration of documents. The Stamp Duty Act is updated to accommodate electronic stamping, while the National Construction Authority Act and Occupational Safety and Health Act incorporate provisions for digital compliance and enforcement. Additionally, the Income Tax Act provides investment incentives for capital expenditure on bulk storage facilities, which can be managed digitally.
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