PM Terrance Drew presents Companies (Amendment) Bill, 2022 in St Kitts and Nevis National Assembly

Prime Minister of St Kitts and Nevis- Dr Terrance Drew led the debate on the Companies (Amendment) Bill, 2022, in the National Assembly on November 4, 2022. 

PM Terrance Drew presents Companies (Amendment) Bill, 2022 in St Kitts and Nevis National Assembly
Image credits: Hon Terrance Drew Facebook Page

St Kitts and Nevis: Prime Minister of St Kitts and Nevis- Dr Terrance Drew led the debate on the Companies (Amendment) Bill, 2022, in the National Assembly on November 4, 2022. 

The Companies (Amendment) Bill resolves a constitutional issue created by the 2021 Amendment, which allowed for the permanent dissolution of exempt companies to comply with Organisation for Economic Co-operation and Development (OECD) and European Union (EU) recommendations. 

The Bill seeks to allow creditors, directors, shareholders and other interested persons to apply to the High Court to deal with any assets previously held by the struck-exempt companies. 

The Bill, therefore, seeks to bring the Act into compliance with the Constitution, so that assets are not vested in the State without alternative options available to the beneficial owners of those assets.

Further, Prime Minister Terrance Drew also asked people to stay tuned for the Sitting of National Assembly which takes place on today, Friday 4th November, 2022 at 10:00am at Government Headquarters.

As per PM Drew, around four bills to be tabled today are the Companies (Amendment) Bill 2022, the Evangelistic Faith Church Incorporation Bill 2022, the Small Business Development (Amendment) Bill 2022, and the Domestic Violence (Amendment) Bill 2022.

“We tabled the Evangelistic Faith Church St Kitts (Incorporation) Bill today, Friday 4th November 2022, “said the prime minister. 

The bill seeks to give the Evangelistic Faith Church situated at the Alley, Sandy Point, St Kitts, the power to own land and otherwise have legal standing.

Pastor Prisca Heyliger was quite pleased to have this Bill passed. PM Terrance Drew also took the opportunity to take a quick photo with her and the St. Kitts-Nevis Labour Party Caretaker for St. Christopher 5, His Excellency Kenneth Douglas.

During today’s sitting of the National Assembly, Prime Minister Dr. Terrance Drew lent his support to the Small Business Development (Amendment) Bill, 2022.