Recent Development of Holding Companies Under Iraqi Law

Emerging holding companies are now a universal necessity as a result of rapidly expanding domestic and international business transactions. Due to holding companies’ significant impact on the national economy, legislation increasingly focuses on them. Concisely, the holding company dominates the administrative and financial aspects of its subsidiaries, and as a result, it casts votes on the board of directors of the subsidiary in favour of the holding company’s interests. The research is divided into three chapters; the first chapter provides a general description of the holding company. Then, clearly, holding companies in Iraq, such as recent sorts of companies, were legalized at the end of 2019 when the Iraqi Representative Council amended Company Law No. 21 and issued No. 17 of 2019 to legalize holding companies. As well, the second chapter analyses domination measures over the subsidiaries, and the third chapter pertains to the holding companies’ liability. In the conclusion, the researcher presents some results and recommendations.