JIS News

The Government will achieve a major step in eliminating the red-tape associated with doing business in Jamaica, when the Companies Office introduces a ‘super form’ this year.

This super form will consolidate applications from five different Government agencies.

“Regulations are now being drafted by the Chief Parliamentary Counsel and I expect to table them by September,” said Minister of Industry, Investment and Commerce, Hon. Anthony Hylton on Tuesday, May 14, in his contribution to the 2013/14 Sectoral Debate in the House of Representatives.

The introduction of the super form is among measures being undertaken by the Government this year, as it pushes ahead with initiatives aimed at creating an environment for enterprise and growth.

Minister Hylton said priority is being given to modernisation of the insolvency legislation to encourage more businesses to re-start after failure.

“Perhaps the most important provision in this legislation allows for a turnaround of businesses under court protection saving jobs and brands,” he stated.

He also pointed to secured transaction reform, which will allow borrowers to pledge “moveable” property as security for loans. This will improve access to credit, particularly for Micro Small and Medium-sized Enterprises (MSMEs), and farmers.

Additionally, Mr. Hylton cited changes to the Trade Marks Act to provide a framework for modernising intellectual property. The first of a series of amendments is expected to eventually lead to accession to the Madrid Protocol, which is now before Parliament.

“This protocol allows for single and centralised filing of trademark and service marks in a way that will provide for protection globally”, the Commerce Minister said. He informed that on Monday, May 13, Cabinet approved Jamaica’s accession to the Madrid Protocol which is subject to the requisite legislation being enacted.

He also mentioned copyright amendments to regulate collective management organisations such as Jamaica Association of Composers Authors and Publishers (JCAP); and the Jamaican Copyright Licensing Agency (JAMCOPY).

“Modernising the patent legislation will allow for investments to flow into the high-tech industries in Jamaica, and to allow access to the Patent Co-operation Treaty,” Mr. Hylton said.

Contact: Alphea Saunders