Self regulation: corporates urged to adopt standards, harmonised frameworks and technology to improve governance and compliance.
A shift from government-prescribed controls toward self regulation is urged, advocating broad legal frameworks that set core standards and norms rather than detailed documentation to enable transparency and cross-border corporate activity. The text promotes harmonised regulatory prescriptions, registrar cooperation, adoption of common processes and technology such as MCA 21 and XBRL, and international knowledge-sharing to crystallise global best practices and improve corporate governance.