BARBADOS IS CHANGING several pieces of legislation with a view to making it easier to do business in the island.
Minister of Industry, International Business, Commerce and Small Business Development Donville Inniss, who piloted the amendments in the House of Assembly today, said they would also help Barbados meet its commitments on anti-money laundering and general financial intelligence matters to a number of regional and international agencies.
He told parliamentarians the proposed changes, which include facilitation of electronic filing to the Government agency dealing with registration of new businesses, would raise the bar on good governance.
The amendment will affect the Companies Act, the Trade Unions Act, the Registration of Business Names Act, the Registration of Newspapers Act, the Societies with Restricted Liabilities Regulations, the Limited Partnership Act and several other pieces of legislation.
The proposed changes deal with matters including notice of the dissolution of businesses; the appointment of liquidators; company record-keeping; and the naming of businesses and the power of the registrar in this regard. (TY)