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During the Second Special Meeting of Parliament on Thursday, 23 November, Hon. Sir Alden McLaughlin was elected and sworn in as the new Speaker of the House

In his remarks, Sir Alden thanked Her Excellency the Governor Jane Owen for her well wishes. “I would also like to thank Premier O’Connor-Connolly, my leader Roy McTaggart, colleagues in the Opposition, and all of you here in the House as Members and Ministers who have reposed your trust in me to become the third speaker of this Parliament in this term,” he stated.

The House unanimously passed 11 Bills on the meeting’s agenda each going through the first and second readings as well as committee and reporting stages.

The most notable Bills passed were the Beneficial Ownership Transparency Bill, 2023 and the National Pensions (Amendment) Bill, 2023. The Beneficial Ownership Transparency Bill, 2023 intends to enhance the jurisdiction’s current beneficial ownership regime to ensure compliance with international standards. The National Pensions (Amendment) Bill, 2023 proposes to amend the National Pensions Act to increase the maximum amount for withdrawals from pension plans for home purchase or construction, mortgage reduction, or mortgage payoff.

13031. Bills presented and passed were:
       1. Beneficial Ownership Transparency Bill, 2023
       2. Banks and Trust Companies (Amendment) Bill, 2023
       3. Companies (Amendment) Bill, 2023
       4. Companies Management (Amendment) (No. 2), Bill, 2023
       5. Foundation Companies (Amendment) Bill, 2023
       6. Insurance (Amendment) (No. 2) Bill, 2023
       7. Limited Liability Companies (Amendment) Bill, 2023
       8. Limited Liability Partnership (Amendment) Bill, 2023
       9. Mutual Funds (Amendment) Bill, 2023
       10. Virtual Asset (Service Providers) (Amendment) (No. 2) Bill, 2023
       11. National Pensions (Amendment) Bill, 2023
       
       Both the Beneficial Ownership Transparency Bill, 2023 and the National Pensions (Amendment) Bill, 2023 were amended.
       A motion which sought an amendment to the Development and Planning Act (2021 Revisions), the Development and Planning (Amendment) Regulations, 2023 and was moved by the Minister for Planning, Agriculture, Housing, Infrastructure, Transport & Development, Hon. Jay Ebanks. purpose of the regulations is to promote the use of rooftop spaces on multi-story buildings in hotel and commercial zones. The motion was unanimously passed.

The Premier brought Motion No. 4 which allowed for the Hon Jay Ebanks and Member of Parliament for George Town North Joey Hew to be added to the Standing Business Committee. The motion was duly carried and will allow Parliament to select a date to present the budget.

At the conclusion of the session, Premier Hon. Juliana O’Çonnor-Connolly spoke to key policy decisions that are being worked on by the United People’s Movement Government since being officially formed on 15 November 2023. Of these, she referred to the financial relief that would come from the National Pensions (Amendment) Law. Another notable development mentioned was a CI$300 increase to the monthly disbursements of eligible public service pensioners who receive the minimum amount, beginning in December. Finally, a one-time honorarium of CI$1500 will be paid to civil servants in December 2023 as a token of appreciation for work achieved throughout the year.

To watch Thursday’s proceedings, visit:

Second Special Meeting of the First Sitting of the 2023-2024 Parliament Session | Part 1:
https://www.youtube.com/watch?v=HCk4qAK3Ltc
Second Special Meeting of the First Sitting of the 2023-2024 Parliament Session | Part 2:
https://www.youtube.com/watch?v=WQAoGWkmznE

Explore further information: Read highlights of the business undertaken in the First Meeting of the 2023-2024 Parliamentary Session at www.gov.ky/government-in-parliament.
How to follow: Watch live broadcasts of sittings on CIG YouTube and CIGTV (Logic - Channel 23, C3 - Channel 3, Flow - Channel 106).