As per Lawkidunya, Business Laws are the laws that regulate the formation, operation, and dissolution of businesses. These laws can vary depending on the type of business, the jurisdiction in which the business is located, and other factors.
In most countries, business laws are created and amended by the legislative branch of government, typically through a parliament or congress. The parliament or congress is responsible for representing the interests of the people and passing laws that reflect the values and priorities of the society.
Business laws may cover a wide range of topics, including business formation and registration, contracts, employment, taxes, intellectual property, consumer protection, and environmental regulation, among others. These laws are designed to create a fair and predictable legal environment for businesses to operate in, and to protect the rights and interests of consumers and other stakeholders.
It is important for businesses to be aware of and comply with the relevant business laws in order to operate legally and avoid potential legal consequences. It may be helpful for businesses to seek legal advice and guidance to ensure compliance with these laws.
How a Bill is Passed in Parliament of Pakistan
In Pakistan, the process for passing a bill into law involves several steps and involves both the National Assembly (the lower house of Parliament) and the Senate (the upper house of Parliament).
Introduction of the Bill: A member of Parliament (MP) can introduce a bill in either the National Assembly or the Senate. The bill is then referred to the relevant standing committee for consideration.
Consideration by the Standing Committee: The standing committee reviews the bill and may hold hearings or seek input from interested parties. The committee can then recommend that the bill be passed, amended, or rejected.
First Reading in the National Assembly: If the standing committee recommends that the bill be passed, it is scheduled for the first reading in the National Assembly. At this stage, the bill is read out in full and referred to the relevant standing committee for further consideration.
Second Reading in the National Assembly: The standing committee reviews the bill again and may make further recommendations for amendment. The bill is then scheduled for the second reading in the National Assembly, where it is debated and voted on by the members. If the bill is passed by a majority of the members present, it moves on to the next stage.
First Reading in the Senate: The bill is then introduced in the Senate and goes through the same process of consideration by a standing committee, followed by the first and second readings.
Consideration by a Joint Sitting of Parliament: If the bill is passed by both the National Assembly and the Senate, it is considered by a joint sitting of Parliament, where members from both houses debate and vote on the bill. If the bill is passed by a majority of the members present, it is sent to the President for assent.
Assent by the President: The President has the power to assent to the bill, which makes it a law, or to withhold assent or return the bill to Parliament with any recommendations for amendment. If the President assents to the bill, it becomes law and is published in the official gazette.
What Law Making Processes are Applicable in Pakistan
In Pakistan, the Constitution of Pakistan sets out the law making processes that are applicable in the country. The Constitution divides legislative power between the federal government and the provinces, with the National Assembly (the lower house of Parliament) and the Senate (the upper house of Parliament) responsible for making laws at the federal level.
There are several steps involved in the law making process in Pakistan:
Introduction of a Bill: A bill can be introduced in either the National Assembly or the Senate by a member of Parliament (MP).
Consideration by a Standing Committee: The bill is referred to the relevant standing committee for consideration. The committee may hold hearings or seek input from interested parties and can recommend that the bill be passed, amended, or rejected.
First Reading: If the standing committee recommends that the bill be passed, it is scheduled for the first reading in the relevant house of Parliament. At this stage, the bill is read out in full and referred to the standing committee for further consideration.
Second Reading: The standing committee reviews the bill again and may make further recommendations for amendment. The bill is then scheduled for the second reading in the relevant house of Parliament, where it is debated and voted on by the members.
Consideration by the Other House: If the bill is passed by the relevant house of Parliament, it is introduced in the other house and goes through the same process of consideration by a standing committee, followed by the first and second readings.
Consideration by a Joint Sitting of Parliament: If the bill is passed by both houses of Parliament, it is considered by a joint sitting of Parliament, where members from both houses debate and vote on the bill.
Assent by the President: If the bill is passed by a majority of the members present at the joint sitting of Parliament, it is sent to the President for assent. The President has the power to assent to the bill, which makes it a law, or to withhold assent or return the bill to Parliament with any recommendations for amendment. If the President assents to the bill, it becomes law and is published in the official gazette.