Members
Parliament
Transparency

E. Grant Gibbons

1169
Speeches
249,853
Words Spoken
36
Sittings Active
17 Feb 2017 House of Assembly
Official Hansard Report
312 words
Thank you. Clause 3 amends the Limited Liability Company Act —so we have moved from the Companies Act, now we are amending the Limited Liability Company Act —of 2016 to clarify the record retention r equirements for Bermuda’s LLCs after dissolution or strike off. The LLC Act is modelled on the Companies Act 1981, therefore, the proposed amendments to the …
17 Feb 2017 House of Assembly
Official Hansard Report
60 words
That brings me up to the end of clause 3 and, obviously, the amendments are going to, as we said, mirror those in the Companies Act, so we are going to delete subsection (2) and we are going to delete the word “six” wherever it appears and substitute the word “five” in. . . looks like about five different areas.
17 Feb 2017 House of Assembly
Official Hansard Report
173 words
I guess the simple answer is they have to be kept in a place where they are available for inspection should a request along those lines come down. So they can be kept in stor-age, they can be kept in the offices of the Limited Li ability Company (if they still have offices of any sort). Obviously, if they have …
17 Feb 2017 House of Assembly
Official Hansard Report
273 words
Thank you. Thank you, Madam Chairman. In answer to the Honourable Member ’s firs t question about wasting time . . . sorry, let me move on from that because, clearly, we all wonder whether we are doing that sometimes. In answer to the first question, clearly, clearly this provision in the LLC Act (we have just dealt with exactly …
17 Feb 2017 House of Assembly
Official Hansard Report
120 words
Yes, I think the i ssue is there are clearly reputational issues here. If you are found guilty of an offence, and if you are a director or officer going forward in other arrangements then that is going to come back to haunt you—particularly if you are involved with a regulated entity. I think the issue is the fine is …
17 Feb 2017 House of Assembly
Official Hansard Report
13 words
Thank you, Madam Chairman. I move that clause 3 be approved as amended.
17 Feb 2017 House of Assembly
Official Hansard Report
12 words
Thank you. I would like to move clause 4, Madam Chai rman.
17 Feb 2017 House of Assembly
Official Hansard Report
68 words
As Honourable Member s will see, I have my final amendment, which is for clause 4, and that is to simply to delete clause 4 because clause 4 is amending a regulation 15(3) in the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations by deleting the word “five” and s ubstitut ing “six” so we no longer need this …
17 Feb 2017 House of Assembly
Official Hansard Report
8 words
Thank you. I move clause 4 as amended.
17 Feb 2017 House of Assembly
Official Hansard Report
12 words
Thank you. I am going to move clauses 5, 6, and 7.
17 Feb 2017 House of Assembly
Official Hansard Report
151 words
Thank you, Madam Chairman. Clause 5 relates to transitional mat ters. It provides that the provisions of this amending Act will not apply to any record or books and papers with respect to which the applicable retention period under the Companies Act, LLC Act, or the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations has expired prior to commencement …
17 Feb 2017 House of Assembly
Official Hansard Report
13 words
Thank you, Madam Chairman. I move that clauses 5 through 7 be approved.
17 Feb 2017 House of Assembly
Official Hansard Report
4 words
I move the preamble.
17 Feb 2017 House of Assembly
Official Hansard Report
12 words
I move that the Bill be reported to the House as amended.
17 Feb 2017 House of Assembly
Official Hansard Report
41 words
Thank you, Mr. Speaker . I move that Standing Order 21 be suspended to enable me to move that the Bill entitled the Companies and Limited Liability Company Amendment Act 2017 be now read the third time by its title only.
17 Feb 2017 House of Assembly
Official Hansard Report
18 words
The Companies and Limited Liability Amendment Act 2017, I move that the Bill do now pass. Thank you.
17 Feb 2017 House of Assembly
Official Hansard Report
12 words
Mr. Speaker, I move that the Bill do now pass. Thank you.
10 Feb 2017 House of Assembly
Official Hansard Report
685 words
Thank you, Mr. Speaker, and good morning. Mr. Speaker, as the Minister responsible for telecommunications, I may, from time to time, request that the R egulatory Authority assist me in formulating and implementing policies and regulations for the eff icient and effective delivery of telecommunications services including univers al broadband service and funding, pursuant to Part 6 of the Electronic …
10 Feb 2017 House of Assembly
Official Hansard Report
56 words
Thank you, Mr. Speaker. I would also like to be associated with the congratulations to Stephen King and his colleagues at the Loren at Pink Beach. I am not sure whether you 490 10 February 2017 Official Hansard Report Bermuda House of Assembly had a chance, Mr. Speaker, to see the facility last night or not.
10 Feb 2017 House of Assembly
Official Hansard Report
5 words
They did not invite you?