Nevis MPs unanimous on Bills to boost offshore sector
Pauline Waruguru
Nevis Reporter- SKNVibes.com
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| Premier Joseph Parry addressing the Nevis Parliament yesterday |
CHARLESTOWN, Nevis – IN a rare show of unity, Parliamentarians from both sides of the House voted unanimously yesterday (Jan. 26) to pass two bills that will make the Nevis offshore sector competitive in the face of world recession and the challenging local financial climate.
The Nevis International Insurance (Amendment) Ordinance, 2009, lowers the share capital for insurance companies from $200 000 to $75 000, while the Nevis Limited Liability (Amendment) 2009 allows persons to obtain copies of public documents held by the Registrar of Companies by paying a prescribed fee and also speaks to the integrity of domiciles transferred to Nevis.
Two other bills were tabled: The Nevis Business Corporation (Amendment) Ordinance 2009 which was read for the first time, and the Nevis International Exempt Trust (Amendment) Ordinance 2009 which was adjourned.
Section 4 of the Nevis Limited Liability (Amendment), 2009 Bill amends section 66(a) of the Principal Ordinance to make provision for companies that wish to transfer their domicile to Nevis to submit a copy of a certificate of good standing issued no earlier than 60 days prior to its submission to the Registrar. ~~Adz:Right~~
The Premier of Nevis, the Hon. Joseph Parry, said it had been brought to his attention that companies had attempted to furnish certificates issued six months or more prior to its submission to the Registrar in the absence of a time frame specified in legislation. |
