When the National Assembly convenes this Friday, two critical pieces of legislation will be tabled: the Legislative Enactments of the Foundations (Amendment) Bill 2024, and the Limited Partnerships (Amendment) Bill 2024.
Following Monday’s cabinet meeting, which was led by Deputy Prime Minister Dr. Goeffrey Hanley, it was revealed that the new laws will seek to “meet the requirements for transparency and checks and balances concerning the governance of legal persons, legal arrangements, which encompasses foundations and limited partnerships” with the goal of ensuring that “ known criminals and those who are involved in money laundering, financing of acts of terrorism or persons behind the financing of weapons of mass destruction are not allowed to control these bodies”.
The Legislative Enactments of the Foundations (Amendment) Bill 2024, and the Limited Partnerships (Amendment) Bill 2024 will be introduced by Minister of Finance, National Security, Citizenship and Immigration, Health and Social Security, Prime Minister Dr. Terrance Drew.
Friday is expected to be a busy session for lawmakers as the National Assembly’s Order Paper noted that another Bill will join these two for their first reading while three others will receive their second.
The third Bill down for its first reading is the National Conservation and Environmental Management Bill, 2024 which will be introduced by Minister of Sustainable Development, Environment and Climate Action and Constituency Empowerment, Dr. Joyelle Clarke.
Meanwhile, the Citizenship by Investment Unit Bill, 2024, Anti-Smuggling of Migrants Bill, 2024, and Immigration (Amendment) Bill, 2024 are all scheduled for their second readings. Their second readings will be moved by Prime Minister Drew.
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