His Excellency the Governor, Nigel Dakin, chaired the 14th meeting of Cabinet on Wednesday 20th April, at the Premier’s Office, in Grand Turk. All Members were present.
At this meeting Cabinet approved Estimates of Revenue and Expenditure for 2022/23 which were progressed to the House of Assembly.
Cabinet also approved a six-month moratorium on all new Business Licenses in the Contractors’ category on businesses that do not meet the criteria of a “Turks and Caicos Islander business” which took effect on 20th April.
Considering the ongoing war being waged in Ukraine by the Russian invasion, Cabinet agreed to suspend the exchanges of financial accounts information under the OECD standards for tax purposes.
Considering the climate crisis which is happening now, Cabinet decided to approve the guidelines and commitments laid out in a Turks and
Caicos Islands Climate Change Charter to address the nation’s dependence on the environment for food security, coastal defense, and economic stability.
Cabinet also approved amendments to the Money Transmitters Ordinance updating the legislative regime to adequately provide for and reflect technological advancements and the widening of money transmission services.
Amendments to the Business Licensing Order was approved, thereby extending the list of exempted persons to include Insolvency Practitioners licensed under the Insolvency Ordinance.
During the meeting, Cabinet considered and approved amendments to the Limited Partnerships (Amendment) Ordinance (LPO) to provide for the filing of, retention, maintenance, and transmission of beneficial ownership information of Limited Partnerships under the LPO.
Amendments to the Company Management (Licensing) Ordinance was also approved, thereby removing the annual license renewal requirement and the submission of an annual supervisory questionnaire for Management Companies.
Amendments to the Trade Marks (Amendment) Ordinance and the Trade Marks (Amendment) Rules to ensure compliance with regional and international standards, and conformity between the existing rules with legislation was also approved by Cabinet.
Cabinet approved the policy established in the proposed Proceeds of Crime (Amendment) Ordinance and Non-Profit Organizations (Amendment) Regulations.
They approved the drafting of a new Bail Ordinance intending to reform and restate the law relating to bail at all levels of the Court and the civil process to address breaches of the same.
Additionally, they approved amendments to the Court of Appeal (Amendment) Bill 2022 and the Chief Justice (Responsibilities) Bill 2022, and for these to be submitted to the House of Assembly.
Good news, for vendors at Sapodilla Bay Beach in Providenciales, as Cabinet approved the temporary removal of a beach vending moratorium at said beach for existing license holders for a period of twelve months. This came into effect from 20th April.
Cabinet also approved the exemption of Import Customs Duties for a named business in the cruise ship sector. Members also agreed steps required.
It was approved for the TCI Government to enter negotiations for the purchase, by private treaty, of rural land at Bellfield Landing, Kew, North Caicos (Parcel 50303-10) for public purpose under management of the Ports Authority.
Lastly, Cabinet approved the settling of outstanding debt owed by Andrews Communications Ltd. To the TCI Telecommunications
Commission for the issue of a telecommunications network and spectrum license issued in 2006.
They also graciously approved financial compensation for individuals affected by criminal activity on Grand Turk.
