The act defines an e-registry as a centralized database and online transaction platform holding information on licenses, permits, certificates, authorizations and regulations, including formalities businesses have to comply with, and capable of facilitating the processing of applications online.
Establishment of an e-registry is one of the key provisions of the Business Regulatory Act of 2014.
The e-Registry shall in particular contain the following:
- Texts of relevant laws and subsidiary legislation on business regulation;
- Name or title of the business license;
- License period or validity;
- License fees;
- Downloadable application forms; and
- Contacts of issuing agencies.
The e-Registry shall provide:
- Easy access to exhaustive information about business regulation and licensing and therefore, improved transparency of business licensing and other administrative procedures; and
- Positive legal security and certainty by ensuring that only those business regulation licenses, permits, certificates and authorizations published in the e-Registry, have legal effect, validity and enforce-ability as far as business activities are concerned.