TCI Cabinet Renews Hurricane Insurance, (CCRIF) in May 22, 2024 Meeting

#TurksandCaicos, July 19, 2024 – Her Excellency the Governor Dileeni Daniel-Selvaratnam chaired the 15th meeting of the Cabinet on Wednesday May 22^nd, 2024, at the Office of the Governor on the island of Providenciales.

All members of Cabinet were present with the exception of the Ministers of Education, Tourism and Home Affairs.

At this meeting, Cabinet:

1. Received a presentation on the National Risk Assessment.
2. Granted approval for the establishment of a National Land Secretariat; further agreeing for the required amendments to the Ordinance to give effect to it being under the remit of the Governor and the Premier; subject to approval from the United Kingdom.
3. Granted approval for amendments to be made to Invest Turks and Caicos Islands Agency (Amendment) Bill 2024 which would give the agency the ability to carry out previously approved recommendations.
4. Granted approval for the waiver of penalty and interest for all HRTT registrants who were assessed during the period February 22nd to March 31, 2024, and an Amnesty Bill to give effect to the decision.
5. Granted approval for the renewal of the Caribbean Catastrophic Risk Insurance Facility Policy, Segregated Portfolio Company for the 2024/2025 Policy Year.
6. Approved the International Tax Compliance (Amendment) Regulations 2024, with the amendment of a provision that will compel RFI’s to submit CRS forms to verify their due diligence requirements.
7. Approved the Business Licensing (Extension of Time) Regulations 2024 for online applications to June 30^th, 2024.
8. Granted approval of the Companies and Limited Partnerships (Economic Substance) (Amendment) Bill 2024 and the Administrative Penalty Policy for forward submission to the House of Assembly
9. Approved the appointment of the following persons to the Promotions and Implementation Committee Credit Union:  President of the Civil Service Association, Dr. Carlton Mills, Rudelle Williams, Drexwell Seymour, Lacal Palmer-Mason, Chalsianna Misick, Claudette Higgs, Shirlen Forbes, Nordia Campbell, Ivan Ssembuya, Ferique Bruce.
10. Granted approval of the Companies and Limited Partnerships (Economic Substance) (Amendment) Bill 2024.
11. Noted work being undertaken taken by the Government in respect of Firearms provisions.

Further information on these matters will be provided by Ministers in due course.