Cabinet discusses building regulations, extension for amnesty and establishment of a credit bureau

Published by BBNTEAM at December 1, 2022

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Posted: Thursday, December 1, 2022. 11:04 am CST.

By Zoila Palma Gonzalez: Cabinet met at its regular session on Tuesday, November 29, 2022 where they discussed the establishment of general guidelines by which the Central Building Authority (CBA) will operate.

The Belize Building Regulations, 2022 will set out procedures and general requirements of the CBA. This knowledge would lead to greater transparency and promote overall safety in construction in Belize.

Cabinet also gave its approval for a 3-month extension of the registration period of Amnesty 2022, to February 2023.

In addition, cabinet approved the introduction of a bill to provide for the creation of a credit bureau in Belize.

The Credit Reporting Bill will establish a legal framework for a credit reporting system that will provide objective credit information to lenders, foster efficient credit decision-making, and a sound level of consumer protection.

Cabinet gave approval for the repeal and replacement of the Financial Services Commission Act, 2020 with the Financial Services Bill to strengthen the regulatory powers of the commission and introduce several key provisions to ensure that it is in line with best international standards and obligations to ensure the integrity and compliance as well as promote Belize’s reputation for conducting and promoting good business.

And, in commemoration of World AIDS Day, observed under the theme, “Equalize,” cabinet encourages all Belizeans to join in the global call to end AIDS as a public health threat by 2030.

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