States of Guernsey
The Guernsey billet for 29 July can be found here http://www.gov.gg/CHttpHandler.ashx?id=96247&p=0
Following the last couple of slightly stagnant State's meetings we have some relevant updates this month:
THE COMPANIES (GUERNSEY) LAW, 2008 (AMD) ORDINANCE, 2015
The States are being asked to approve this amendment. No commencement date is yet given. The amendment will come into force once it has been approved by the States and the date will be chosen by the Commerce and Employment Department.
The ordinance will amend the Companies (Guernsey) Law, 2008 to give effect to those parts of the resolution of 28 November 2012 not already implemented. The amendments will permit the conversion of the cell of a PCC into a standalone company, allow cross boarder company amalgamations on a short form basis, and strengthen shareholder protection in a takeover.
THE COMPANIES (TRANSITIONAL PROVISIONS) (AMD) REGULATIONS, 2015
These regulations further amend the Companies (Transitional Provisional provisions in connection with the commencement of the Companies (Guernsey) Law, 2008 by extending the transitional period for the provisions of that law relating to memorandum of incorporation, the articles of incorporation, shadow directors, the duties of secretaries, conversion of shares into stock and the power of directors to issue shares. These regulations replace and repeal the Companies (Transitional Provisions) (Amd) Regulations, 2013 which were in force from 2 September 2015 until 31 December 2015. These regulations came into force on 7 May 2015.
INSURANCE BUSINESS (BAILIWICK OF GUERNSEY) (AMD) ORDINANCE , 2014 (COMMENCEMENT) REGULATIONS, 2015
Brings the ordinance to which this relates to into force retrospectively on 1 May 2015. The Ordinance amends the Insurance Business (Bailiwick of Guernsey) Law, 2002 by replacing the margin of solvency and approved asset requirements currently applicable to licenced insurers with capital resource requirements which will be prescribed by rules of the Commission.
THE INCOME TAX (ZERO 10) (COMPANY INTERMEDIATE RATE) (AMENDMENT) (GUERNSEY) ORDINANCE, 2015
This will amend the Income Tax (Guernsey) Law, 1975 by extending the company intermediate income tax rate (10%) to income from the provision of administration services (as defined in the POI Law).
The LOI RELATIVE AUX DOUITS (AMD) LAW, 2013 (COMMENCEMENT ) ORDINANCE, 2015
This inserts provisions which create the offence of impeding a Constable or Douzanier in the execution of their respective duties under the Law, enable warning notices to be served, confers powers on the Central Committee to executing work, enable appeals to the Parochial Appeals Tribunal and deal with the service of documents.
Policy Council letter of re structuring the Open Market Housing Register p 1449
This deals with recommendations required to enable the restructuring of the Open Market Register which was approved by the States in 2013.
Policy Council letter re Maternity Leave, Maternity Support Leave and Adoption Leave p 1462
These provisions are required to ensure Guernsey is in compliance with the United Nations Convention on the Elimination of all forms of Discrimination against Women.
THE SOUTH SUDAN (RESTRICTIVE MEASURE) (GUERNSEY) ORDINANCE, 2015