Parliament expects to pass two legislation this week.They are the Companies Bill 2009 and the Interpretation and General Provisions Validation and Indemnity bill 2009.
The two bills have been tabled last week by the responsible ministers but debate were deferred to [today] because the Bills and Legislation Committee were yet to scrutinise them when they were tabled in their second reading.
The Companies Bill 2009 was tabled by the Minister for Commerce, Industries and Employment, Francis Billy Hilly, last Wednesday while the Interpretation and General Provisions Validation and Indemnity Bill 2009 was tabled by the Prime Minister Dr Derek Sikua last Thursday.
Mr Hilly said the new Companies Bill aims to provide Solomon islanders a new act which reflect regional best practices and meets the need of Solomon islanders and support smaller companies which comprise of the majority of companies operating in Solomon islands.
He said it also aims at introducing a simpler approach which reflects regional practice tailored to suit the local environment and to introduce a single shareholder companies and community companies among other reasons.
The Interpretation and General Provisions Validation and Indemnity Bill moved by the Prime Minister seeks to validate any subsidiary legislation that has not been published in the gazette or laid in Parliament.
Government plans to table additional bills this week.
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