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JIS News

In its continued effort to prepare interest groups for the implementation of the new Companies Act in January 2005, the Office of the Registrar of Companies (ORC) will on Saturday, November 13, address lawyers at a seminar hosted by the Bar Association of Jamaica at the Shaw Park Hotel in Ocho Rios.
The ORC, as the agency responsible for implementing the Companies Act 2004, has been sensitising various professional groups about the new provisions through seminars and other speaking engagements.
In an interview with JIS News, Deputy Chief Executive Officer and Director of Operations at the ORC, Shellie Leon, said that it was important to target attorneys as “they are one of the key professional groups that will be involved in the smooth functioning of the Companies Act as they will be performing several services that would fall under the Act for clients”.
Topics for discussion include the incorporation of new companies; transitional arrangements and the filing of documents under the new Act; the roles and responsibilities of directors and the restoration of companies.
Presenters include ORC’s CEO, Judith Ramlogan-Chong; Miss Leon and Trudy-Ann Bartley Thompson, Business Registration Manager. Registration cost for participants is $1,000.
Miss Leon pointed out that a previous seminar was held with the Institute of Chartered Accountants of Jamaica (ICAJ) and the next seminar would be held with professionals at JAMPRO and would target businesspersons.
According to her, the responses of persons to these meetings were good and they were enthusiastic about the new legislation, which would help to save persons time and money. “They are very excited about it and they want to know how things will change”, she added.
Other initiatives to inform persons about the new Act, Miss Leon said, included focus group meetings with various professional groups, including attorneys. She said that the ORC would be hosting at least two such meetings before the implementation date and several others after the Act is put into operation next January.
The Companies Act 2004 will replace the 1965 law and would make the formation process for new companies simpler. It will also give greater responsibility to company directors and calls for more openness and transparency of businesses.