Basseterre, St. Kitts, December 14, 2015 (SKNIS): Prime Minister of St. Kitts and Nevis, Dr. the Honourable Timothy Harris, read for the second time the Insurance (Amendment) Bill which seeks to “tidy up a few cross referencing errors in the Insurance Act.”
The prime minister said that “the Government requires a provision in the Insurance law that provides for fees and charges to be paid to the Accountant General by every insurer.
“That provision should also speak to when the quarterly fees are to be paid,” said the prime minister, explaining that “legislation was passed on April 30, 2009 by the National Assembly to provide for that matter but because of issues of incorrect cross references those amendments would not accomplish their purpose.”
The prime minister stated that it is anticipated that the amendment to the Bill will rectify the errors made and added that “it is intended to provide clearly that the fees that must be paid to the Accountant General will be collected quarterly, rather than monthly.”
“These payments must be made on or before the 15th day of the months of March, June, September and December of each year,” he said. “These payments would be in respect of the quarter preceding those months.”
The Bill was read in a sitting of Parliament on December 11 at Government Headquarters.
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