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House of Representatives to present bill to modernize registration of companies at Special Sitting on Friday

Posted: Thursday, May 12, 2022. 10:11 am CST.

By Rubén Morales Iglesias: Apart from pushing through two loan motions for COVID-19 relief, and for the Climate Resilient and Sustainable Project to the tune of $31.2 million and a motion for the Governor General to issue posthumous pardons, the Government of Belize will seek present the Belize Companies Bill and the Trade Licenses Bill at Special Sitting of the House of Representatives on Friday, May 13.

The government will introduce a Bill to repeal, replace and consolidate the International Business Companies Act. The objective is to “further establish and facilitate a modernized framework for the registration, operation and regulation of companies”. The Bill is to be referred to the Finance and Economic Development Committee for examination, consideration, and report.

The Trade Licenses Bill 2022 is to make provision for trade licensing. To make way for it, the Trade Licensing Act will be repealed. The Bill is to be referred to the Public Service, Labour, Industry, and Trade Committee for examination, consideration, and report.

Under Papers, a paper will be presented for the Lotteries Control Amendment and another on other contracts for the Caracol Road Upgrading Project.

The Friday Special Sitting of the House of Representatives starts at 10:00 am at the National Assembly Chamber at Independence Hill in the capital Belmopan.


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