The Securities (Amendment) Act, which seeks to enhance the legal and regulatory framework for Retail Repurchase Agreements (retail repos) in Jamaica, was passed in the Senate on Thursday, December 18. In piloting the legislation, Minister of Justice, Senator Mark Golding, noted that the main focus is to provide additional protection for repurchase clients in the event of a dealer’s insolvency...

Legislation to amend the Transfer Tax Act was passed in the Senate on Thursday, December 18. The Bill, piloted by Minister of Justice, Senator the Hon. Mark Golding, seeks to provide for the exemption of certain securities of Collective Investment Schemes (CIS) as defined in the Securities (Amendment) Act 2013. A CIS may be defined as any system in which...

The Senate today (December 12) approved a Motion  to address the negative stereotypes that limit the learning capabilities of girls and boys. Opening the debate on the motion, Senator Imani Duncan Pryce noted that presently the education outcomes for both genders are very different. “Education output for girls and boys have been so different. I view the situation with our...

The Senate, on Friday, December 5, passed the Representation of the People (Amendment) Act, 2014, which provides for the registration, regulation, and funding of political parties. The Bill, which was approved in the House of Representatives on October 14. was passed by the Senate with six amendments. These relate to: registration of political parties, and procedures for registering, refusal of,...

The Senate, on Thursday, December 4, passed amendments to the Mortgage Insurance Act, aimed at making mortgages more accessible for persons seeking to acquire a home. The Bill seeks to increase from 90 per cent to 97 per cent, the percentage of the appraised value of the property on which mortgage indemnity insurance is granted; and to vary the percentage...

Debate on the Evidence (Amendment) Bill, which seeks to introduce significant reforms in the justice system, began in the Senate, on December 4. Opening the debate, Minister of Justice, Senator the Hon. Mark Golding, noted that the amendments address several issues, including the admission into evidence of documents of facts by agreement between the Defence and Prosecution. He also informed...

The Disaster Risk Management Act, which seeks to strengthen the country’s national disaster preparedness, emergency management and response processes and mechanisms, was passed in the Senate on Friday, November 7. The Bill repeals and replaces the Disaster Preparedness and Emergency Management Act of 1993. Minister of Justice, Senator Mark Golding, noted that local disaster managers have been finding it difficult...