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Cabinet has approved the purchase of two properties in May Pen, Clarendon, for the National Insurance Fund (NIF), at a cost of $76 million, to house the parish offices of the National Insurance Scheme (NIS).
Minister with responsibility for Information, Telecommunications and Special Projects, Hon. Daryl Vaz, said the need to acquire the properties, situated on Manchester Avenue and Church Street in the town, became necessary after the NIS was served notice by owners to vacate the premises it currently occupies.
He pointed out that over the years the NIF has sought to identify office facilities, or development sites, to house NIS parish offices.
On another matter, Minister Vaz said Cabinet also approved the introduction to Parliament of a Bill titled, “The Payment, Clearing and Settlement Act, 2010”, which seeks to establish the legal framework for the regulation of national payment systems, and to provide the Bank of Jamaica with regulatory oversight for the system.

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