The Senate, on Friday, June 27, approved the Financial Services Commission (Amendment of Fourth Schedule) Order, which allows fixed penalties for breaches made under the Pensions (Superannuation Funds and Retirement Schemes) Act. The penalties range from $50,000 for failure to display a certificate of registration or licensing certificate, to $200,000 for performing duties as a fund administrator without being licensed....

The Senate on Friday, March 21, passed the fiscal rule legislation, as the government moves to put a cap on what the country can spend. The fiscal rules seek to bolster transparency within the economy and ensure a sustainable budget. Their enactment means that Parliament will have a greater responsibility in the management of the country’s economic affairs. The Bills,...

The Criminal Justice (Suppression of Criminal Organisations) Bill, popularly called the ‘anti-gang’ legislation, was passed in the Senate, on (March 7), with three amendments. The law makes provision for the disruption and suppression of criminal organisations and outlines offences, in order to restore a sense of security in the Jamaican society and strengthen the capacity of law enforcement agencies to...

Debate on the Criminal Justice (Suppression of Criminal Organisations) Bill, popularly called the ‘anti-gang’ legislation, began in the Senate on February 28. The Bill makes provision for the disruption and suppression of criminal organisations and outlines offences, in order to restore a sense of security in the Jamaican society and strengthen the capacity of law enforcement agencies to deal with...

The Senate passed the Conch (Export Levy) (2013 Conch Season) (Special Provisions) Act 2013 on December 20, to allow exporters to complete payment of the conch export levy in instalments. The Act permits exporters to complete payment of the export levy within three months of the date of submission of the application for an export health certificate and export licence...

The Senate on Friday, December 13, passed the Securities (Amendment) Act, to combat the establishment and proliferation of unlawful financial organizations. In piloting the Bill, Minister of Justice, Hon. Mark Golding, said the Bill was drafted due to the urgent need for the Financial Services commission (FSC) to be equipped with adequate legislative powers to supervise and regulate the Jamaican securities...

The Senate on Friday, December 6, passed the Omnibus legislation which seeks to establish a transparent and coherent regime to govern all tax incentives. The Bills passed are the Fiscal Incentives (Miscellaneous Provisions) Act; and the Income Tax Relief (Large Scale Projects and Pioneer Industries) Act 2013. The Fiscal Incentives (Miscellaneous Provisions) Act 2013 sets out the reforms to be...