Dominica: The Dominica Parliament on Wednesday unanimously passed the Insurance (ACT) 2012 which will repeal the old ACT when it is accented to by the President, according to a Dominica News Online report.
In presenting the Act to Parliament Information Minister, Ambrose George, who was deputizing for Prime Minister, Roosevelt Skerrit, told the House that piece of legislation was “important for the financial sector given all the issues that was happening in the insurance industry.”
“Madam Speaker, this Bill seeks to revise and reform the law regulating insurance business transacted within Dominica as well as private pension fund plans. The Bill is divided into eleven parts,” he told the House. George called on all Members of the House to give the Bill their “fullest support” since it was “important for the sector” a view also shared by opposition senator Ezekiel Basil, although he had a few concerns.
The DNO report said that while he too expressed the view that the Bill was “important and timely for the Insurance sector” he called on the Government to carefully examine the document in the Committee stages and make changes he suggested were necessary.
The House also saw the enactment of the Supplementary appropriation Act 2012 totalling EC$6,113,935.72. The “Stamp amendment Act 2012”, the “Marriage “amendment) Act 2012 were also debated and passed in the Dominica Parliament, the DNO report stated.
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