The Lower House, in its session on Thursday, headed by its Speaker Abdul Karim Daghmi and in the presence of Prime Minister Dr. Bisher Khasawneh and the Cabinet's members, approved draft amendments on the Execution Law.
The Senate is scheduled to discuss the draft amendments of Execution Law and Jordanian Penal Code No. 16 of 1960 at the beginning of the week following Eid al-Fitr holiday.
The two chambers will hold a joint session during that week, and before proroguing the Parliament's current ordinary session on the 15th of next May to resolve the dispute over the laws of Aqaba Special Economic Zone Authority (ASEZA) and the Independent Electoral Commission (IEC).
In its House final version, the Execution Law prohibits the imprisonment of the debtor, in the case the debt amount is less than JD5,000 or if the debtor fails to meet a contractual obligation of three years after the law comes into force.
In addition, the draft law stipulates that an individual shall not be imprisoned during the bankruptcy proceedings, as well as prohibits imprisonment for insolvent debtors and in the case that the imprisonment of debtors has negative social effects or negatively impacts the debtor’s household.
As per its mandating reasons, the bill seeks to achieve a creditor- debtor balance, to ensure justice for all parties, reduce the debtor's imprisonment and prevent his/her jail in some cases, in addition to addressing loopholes that surfaced during implementation.
The Lower House, in its session on Thursday, headed by its Speaker Abdul Karim Daghmi and in the presence of Prime Minister Dr. Bisher Khasawneh and the Cabinet's members, approved draft amendments on the Execution Law.
The Senate is scheduled to discuss the draft amendments of Execution Law and Jordanian Penal Code No. 16 of 1960 at the beginning of the week following Eid al-Fitr holiday.
The two chambers will hold a joint session during that week, and before proroguing the Parliament's current ordinary session on the 15th of next May to resolve the dispute over the laws of Aqaba Special Economic Zone Authority (ASEZA) and the Independent Electoral Commission (IEC).
In its House final version, the Execution Law prohibits the imprisonment of the debtor, in the case the debt amount is less than JD5,000 or if the debtor fails to meet a contractual obligation of three years after the law comes into force.
In addition, the draft law stipulates that an individual shall not be imprisoned during the bankruptcy proceedings, as well as prohibits imprisonment for insolvent debtors and in the case that the imprisonment of debtors has negative social effects or negatively impacts the debtor’s household.
As per its mandating reasons, the bill seeks to achieve a creditor- debtor balance, to ensure justice for all parties, reduce the debtor's imprisonment and prevent his/her jail in some cases, in addition to addressing loopholes that surfaced during implementation.
The Lower House, in its session on Thursday, headed by its Speaker Abdul Karim Daghmi and in the presence of Prime Minister Dr. Bisher Khasawneh and the Cabinet's members, approved draft amendments on the Execution Law.
The Senate is scheduled to discuss the draft amendments of Execution Law and Jordanian Penal Code No. 16 of 1960 at the beginning of the week following Eid al-Fitr holiday.
The two chambers will hold a joint session during that week, and before proroguing the Parliament's current ordinary session on the 15th of next May to resolve the dispute over the laws of Aqaba Special Economic Zone Authority (ASEZA) and the Independent Electoral Commission (IEC).
In its House final version, the Execution Law prohibits the imprisonment of the debtor, in the case the debt amount is less than JD5,000 or if the debtor fails to meet a contractual obligation of three years after the law comes into force.
In addition, the draft law stipulates that an individual shall not be imprisoned during the bankruptcy proceedings, as well as prohibits imprisonment for insolvent debtors and in the case that the imprisonment of debtors has negative social effects or negatively impacts the debtor’s household.
As per its mandating reasons, the bill seeks to achieve a creditor- debtor balance, to ensure justice for all parties, reduce the debtor's imprisonment and prevent his/her jail in some cases, in addition to addressing loopholes that surfaced during implementation.
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