POST CABINET PRESS NOTES FOR SEPTEMBER 8, 2022

Members of Cabinet met on Thursday September 8, 2022 and discussed a number of matters of national importance as follows:

S&P GLOBAL ANNUAL CREDIT SURVEILLANCE OF MONTSERRAT

Cabinet noted the paper.

BANKING (LICENSES) REGULATIONS 2022 UNDER THE BANKING ACT (CAP. 11.03) (“THE ACT”)

Cabinet approved the Banking (Licenses) Regulations 2022 under the Banking Act (Cap. 11.03)

CREDIT REPORTING REGULATIONS UNDER THE CREDIT REPORTING ACT 2019 (ACT NO. 4 OF 2019) (” THE ACT”)

Cabinet approved;

1. the Credit Reporting Regulations 2022.
2. that the Credit Reporting Act 2019 and regulations commence on November 1, 2022.

ENTERPRISE DEVELOPMENT SCHEME (EDS) AND SMALL BUSINESS RELIEF ASSISTANCE (SBRA)

Cabinet approved duty-free exemption for all businesses approved under the EDS and SBRF on the following terms and conditions:

1. each of the approved businesses be granted duty free exemption on the list of items forming part of the approved EDS and SBRF application;
2. any variations to the list of items forming part of the approved EDS or SBRF application must be approved by the EDS Committee in writing;
3. the items imported under the concession will be for the sole use of the business and not for personal use;
4. the items for concession shall be equipment, fittings and or furniture;
5. exemption will be granted from consumption tax and import duties; while processing fees must be paid by the business owner;
6. the duty-free exemption shall expire on 30^th September 2023.

TELECOMMUNICATIONS (AMATEUR RADIO) REGULATIONS

Cabinet approved the laying of the Telecommunications (Amateur Radio) Regulations 2022 in the Legislative Assembly.

TRANSFER OF SHARES IN THE MONTSERRAT CULTURAL CENTRE COMMITTEE INC. TO THE GOVERNMENT OF MONTSERRAT

Cabinet approved the transfer of shares in Montserrat Cultural Centre Committee Inc. to the Director of the Montserrat Arts Council and the Financial Secretary, Ministry of Finance on behalf of the Government of Montserrat.

OVERSEAS TRAVEL AND DUTY

Cabinet was informed of the Minister of Education, Health and Social Services upcoming travel overseas from 20^th September – 4^th October 2022. This will be to attend the 74^th session of the WHO Regional Committee for the Americas, and another PAHO meeting of Health Ministers in Washington DC. The Premier will oversee the Ministry in Minister Kirnon’s absence.