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The Senate approved amendments to the Income Tax Act on Thursday (March 18) in order to increase the fines and penalties payable under the Act to more realistic levels and to empower the Minister, subject to affirmative resolution of the House of Representatives, to increase or otherwise vary all fines and penalties under the Act. Supporting the Bill, Government Senator...

The Senate yesterday (March 18) agreed to amendments to the Customs Act to increase the fines and penalties payable under the law to bring them to more realistic levels in keeping with the value of money and to empower the Finance and Planning Minister, subject to affirmative resolution of the House of Representatives, to amend or vary any penalty or...

A Bill titled An Act to Repeal and Replace the Companies Act was passed on Thursday (March 5) in the Senate. The Bill will employ more stringent measures to make directors and other such persons who are entrusted with the proper operations of companies, more accountable for the actions of these entities. "The law recognizes that a company is an...

Finance and Planning Minister, Dr. Omar Davies yesterday (March 2) tabled the first supplementary estimates in the House of Representatives for the 2003/2004 fiscal year. The estimates, totalling $17.46 billion has recurrent expenses of $14.43 billion and capital expenditure amounting to $3.02 billion. Under recurrent expenses in the revised estimates, the Office of the Services Commission is to receive a...

Debate on a Bill to repeal and replace the Companies Act began in the Senate last Friday (February 27). The amendments will, among other things, simplify the formation of a company and give recognition to the 'sole member' company. In his contribution to the debate, Senator Keste Miller said one of the most important aspects of the Bill was the...

Government Senator, Noel Sloley has said that Jamaicans needed to substantially increase local saving funds for the country's development, and the stock market was a good vehicle for ordinary investors to save for the long term. He said the government could take some credit for improved performance and important developments in the local stock market, as well as the encouragement...

The Senate yesterday (Feb. 20) gave its full support to the recently signed Memorandum of Understanding (MOU) between government and the trade unions representing public sector workers. Attorney General and Minister of Justice, Senator A.J Nicholson who opened the floor on a motion for adjournment, stated, "through the march of history and in particular, Jamaica's modern history, stretching back to...

The Senate yesterday (February 6), adopted the Report of the Joint Select Committee on the Family Property (Rights of Spouses) Act, and approved the Bill. This will bring common law unions within the ambit of the provisions relating to the division of property, where there is a breakdown of the union and to address issues of maintenance of those spouses...

In a move to improve the capability of the Public Accountancy Board to carry out its functions, the Senate on Friday (Jan. 30) passed amendments to the Public Accountancy Act, which will clarify and intensify the responsibilities and functions of the board. The changes will provide for higher standards of professional conduct within the accountancy profession to allow for improved...

The Senate approved a resolution on Friday (Jan. 30), which seeks to increase the minimum gratuity payable under the Constables (Special) Act to dependents and legal personal representatives of Special Constables who die as a result of injuries related to their duties. Leader of Government business in the Senate, Burchell Whiteman said Government had agreed to, under the Constables (Special)...

The Senate yesterday (October 31) gave its full approval to the amendments to the Access to Information Act and Access to Information Regulations 2003,which will give seven government ministries and agencies the go ahead to give information to the public. The seven are the Ministries of Finance and Planning; Local Government, Community Development and Sport; Office of the Prime Minister;...

The Amendments to the Access to Information Act and the Access to Information Regulations 2003 were tabled in the Senate on Friday, October 17 for debate to begin on October 24. Leader of Government Business in the Senate, Senator Burchell Whiteman in tabling the Amendments on Friday (Oct. 7), said, "we have now tabled Amendments to the Access to Information...