Functions of Commercial Registry

Last updated 10 June 2020
Functions of Commercial Registry

Inquiry Function

The commercial register is a file that is available with the Ministry of Commerce that includes the names of the merchants, their locations, activities, and addresses in any place in the country where every trader is assigned a page in the commercial register with all the information and data about him and through it any knowledge about the merchant can be known where the trader can inquire about other traders whom they deal with him, banks can inquire about the dealers who deal with them, and whoever deals with him, whether he is a trader like him or an ordinary citizen, can obtain all the necessary data to deal with him, know-how and a basic rule in his business.

Statistical Function

The commercial registry plays an important role for the state, through which the state can determine the number of merchants, their activities and businesses, and the nature of their commercial activity. The commercial registry performs the statistical function for merchants and commercial and industrial projects, and the legislator is keen to organize the commercial registry perfectly for everyone who does this job, where the legislator is given Commercial Registry employees have the power to investigate data entered by the trader in the registry and obligate him to provide supporting documents for that. He also obligated the legislator to record every amendment or change in the data recorded in the registry.

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Economic Function

This job is related to the statistical function because this job gives an honest picture of the economic situation in the country, and therefore those in charge and specialists in developing the economic policy in the country can obtain sufficient information about the commercial and industrial activity carried out by individuals and companies.

Consequently, the state can direct commercial and industrial activity according to its economic plan by encouraging and supporting the commercial and industrial activities that the country needs, and therefore it can be said that the commercial registry performs an economic function on sound statistical grounds that enables the state to direct commercial and industrial activity according to the state’s economic plan through the economic function which is considered the basis for directing the economic and commercial activity of the country.

The Legal Job

The commercial registry performs this function by arranging some legal effects such as the presumption of acquiring the trader’s status for those who have a record in the commercial register. Registration in the commercial register is not considered a condition for acquiring the trader’s status, but rather it is considered presumption only on the acquisition of this trait. It is not permissible for a trader to adhere to his non-registration in the commercial register to dispose of the obligations imposed on him by the law or that arise from his dealings with others in his capacity as a merchant, which is understood from this text that the person acquires the trait of the trader even if he does not register himself in the commercial registry and that The Law of Joint Stock Companies, the Limited Partnership Company, and the Limited Liability Company made the commercial registry a month’s job for these companies for this purpose. No other merchant may use this name in the type of trade that its owner engages in the registry office department in which the registration took place.

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Also read: The Most Important Branches of Commercial Law

Also read: A Simplified Definition of Commercial Law

اقراء المقالة باللغة اخرى : العربية

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