Coordination Meeting: Meeting regarding draft laws held

A coordination meeting regarding the draft law amending the Securities Exchange Law was held at the meeting hall of the Ministry of Legal Affairs in Nay Pyi Taw on Monday. At the meeting, the Union Minister for the Ministry of Legal Affairs and Union Attorney General Dr. Thida Oo delivered opening remarks.

The Deputy Minister of Planning and Finance, U Han Win Aung, then explained and discussed that certain provisions prescribed in the existing Securities Exchange Law (2013), which is currently being implemented by the Securities and Exchange Commission Office, are no longer consistent with present-day conditions.

He further noted that amendments to the Securities Exchange Law (2013) are necessary in order to meet required standards for accession to the International Organization of Securities Commissions (IOSCO). Subsequently, responsible officials attending the meeting presented and discussed, section by section, the contents included in the law amending the Securities Exchange Law.

The Union Minister and the Union Attorney General held final coordination discussions to enable the promulgation of the draft law amending the Securities Exchange Law. Similarly, a final coordination meeting to enable the promulgation of the draft law amending the Telecommunications Law was held at the meeting hall of the Ministry of Legal Affairs in Nay Pyi Taw in the afternoon.

At the meeting, the Union Minister and the Union Attorney General delivered opening remarks, after which the Deputy Minister of Transport and Communications, U Aung Kyaw Tun, explained and discussed matters related to the promulgation of the draft law amending the Telecommunications Law.

The Union Minister and the Union Attorney General reviewed and found that amendments to the Telecommunications Law are intended to include provisions for granting approvals to allow the importation of network-supporting equipment or telecommunications equipment that meet the standards and specifications set by the Telecommunications Regulatory Department.

In addition, it is intended to explicitly include the imposition of fines as part of administrative enforcement measures. As these amendments are deemed necessary to ensure consistency with current conditions and are matters that should be prioritized for amendment and enactment, it was learned that final coordination discussions were held to enable the promulgation of the draft law amending the Telecommunications Law.