Mon | Dec 6, 2021

Committee to deliberate Bankruptcy and Insolvency Act established

Published:Friday | January 17, 2014 | 3:57 PM

KINGSTON, Jamaica:

The Senate this morning approved the establishment of a joint select committee to deliberate and report on the Bankruptcy and Insolvency Act, 2013.

The Government has said the new law will replace current legislation that are outdated and ill-suited for modern commerce.

However, before the Senate could grant its approval, Leader of Government Business, A.J. Nicholson sought to clarify media reports that the bill may not have been properly brought to Parliament.

While the bill is under the responsibility of Government Minister Anthony Hylton, a member of the Lower House, Justice Minister and Upper House member Mark Golding introduced the bill to Parliament through the Senate in December.

However, Senator Nicholson argued this morning that under the Constitution, except for money-related bills, any bill can be introduced in to the Parliament through the Senate.

Senator Nicholson emphasised that bills have been introduced to the Parliament through the Senate on previous occasions.

He said he hopes the reports will be withdrawn.

The members of the Senate appointed to the committee are Mark Golding, Norman Grant, Imani Duncan-Price, Sophia Frazer-Binns and Dr Nigel Clarke.

They will join with members from the Lower House who are to be named at a later date.

WATCH: IMF TRACKER: Tax revenue for March quarter ...

Like our new Facebook page:

Gleaner Jamaica

Follow us on Twitter: