MPs to debate changes to beneficial ownership
The summer break ends with legislators heading back to the House of Assembly with a debate scheduled on a single piece of legislation.
The Beneficial Ownership Act 2025 was tabled in July by David Burt, the Premier and Minister of Finance.
Today, MPs will debate moving its central register from the purview of the Bermuda Monetary Authority to the Registrar of Companies.
The legislation broadens the definition of beneficial owner to apply to different categories, and will empower the Registrar of Companies to give details from the register to “specified competent authorities and obliged entities”, Mr Burt said in July.
It will also enable the minister to make regulations for “applications by beneficial owners for the suppressing of their information on the central register, for the reporting of discrepancies in beneficial ownership information by persons to whom the registrar has disclosed such information, for actions to be taken by the registrar following receipt of a discrepancy report, and for the registrar to control the issue and transfer of securities”.
A busy morning lies ahead, with 14 ministerial statements lined up.
Among those listed is Strong Leadership to Address Community Violence: The Work of the Governor’s Council, a statement to be delivered by the Premier.
Mr Burt will also speak on the Public Service Superannuation (PSSF Stabilisation) Amendment Act 2025.
Zane DeSilva, the Deputy Premier and Minister of Housing and Municipalities, will provide an update on the Morgan’s Point Development Company.
Diallo Rabain, the Minister of the Cabinet Office and Digital Innovation, will update MPs on the the100-Day Accelerated Programme
Michael Weeks, the Minister of National Security, will provide an update on the National Violence Reduction Strategy, and he will speak on the 36th Annual National Recovery Month, which is observed in September.
Owen Darrell, the Minister of Tourism, Transport, Culture and Sport, will speak on A New Chapter in Tourism Investment for Bermuda, and he will provide an update on the island’s participation at Carifesta XV in Barbados.
Tinée Furbert, the Minister of Youth, Social Development and Seniors, will provide an update on the Office of Youth Affairs programmes, and she will speak on the Financial Assistance Amendment Regulations 2025.
Kim Wilson, the Minister of Health, will speak on prioritising mental wellbeing for a successful school year.
Jaché Adams, the Minister of Public Works and Environment, will speak on improving safety and accessibility on private roads.
Jason Hayward, the Minister of Economy and Labour, will give an update on the Benefit Entities & Trustee Amendment Acts 2025.
Alexa Lightbourne, the Minister of Home Affairs, will update MPs on the recently concluded Africa-Caricom Summit, which she attended in Ethiopia.
Eleven pieces of legislation will be tabled for later debate, ranging from amendments to the national pensions scheme and the superannuation fund for public workers to investment legislation for The Loren and the Elbow Beach Hotel, which it acquired this year.
Legislation will also be tabled for outpatient treatment for mental health, and for aerial light shows using drones.