President Wavel Ramkalawan chaired a scheduled meeting of the Cabinet today, Wednesday 13th October, at which a number of legal and policy memoranda were considered.

Cabinet approved amendments to the Companies Act (Cap. 40) & the Registration of Associations Act (Cap. 201).  These amendments will allow Companies and Associations an amnesty period for payment of their annual fees, annual returns and surplus income.  The amendments will also relate to the consequential penalties applicable for non-compliance with relevant provisions under the Acts.

Cabinet approved amendments to the Stamp Duty Act. Amendments to the Stamp Duty Act relate to the payment of stamp duty, validating duty and a surcharge on late payment of stamp duty and adjudication procedure.

Cabinet approved amendments to the Physical Planning Bill.  These amendments relate to the appointment of the Planning and Appeals Board, right of way, subdivision, reparcellation or combination amongst others. 

Cabinet was also briefed on the status of the development project for Beau Vallon Regatta Site.

Cabinet endorsed the Financial Services Authority’s 2021 – 2025 Strategic Plan.

Further details to the media will be provided by the relevant Ministry.