Bills on Pension, Treasury Notes, Tax Exemptions Passed in House of Representatives

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Updated: January 22, 2016

Today’s sitting of the House of Representatives saw four Bills going through their second and third readings. The first was the Private Pension Bill which is to make provision for the registration of private pensions and the supervision of private pensions to offer better protection to pensioners. This was passed with an amendment to say it does not apply to the existing pensions from the three public utility companies.  The Treasury Bills Amendment Bill 2015 which sought to raise the principal sums represented by treasury bills and treasury notes outstanding at any one time, was also passed with amendments. The Belize Island Holdings Facility Development Bill 2015 which provides for certain exemption from taxes and duties went through its readings as well. The fourth bill was the Belize National Coast Guard Service Amendment Bill 2015 which was introduced by Minister of National Security, John Saldivar.

JOHN SALDIVAR

“To provide for the change of the name of the Belize National Coast Guard Service to Belize Coast Guard and the clarification of duties and function of the coast guard to bring the act in conformity with the Constitution of Belize by providing that powers of appointment and otherwise in relation to members of the Coast Guard are exercisable by the Security Services Commission and to provide for matters connected therewith or incidental thereto.”

Also going through was the European Investment Bank eight million Euro line of credit to the Development Finance Corporation. This is for on lending to eligible small and medium size commercially run enterprises and micro investments. These now go to the Senate where they will be debated at next Wednesday’s meeting.