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Senate Session 2018/2019 1 speech

June 26, 2019

Official Hansard Report - Senate

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Session Summary

Simplified for You

The Senate fast-tracked the Economic Substance Amendment Act 2019 to prevent up to 20% of Bermuda-registered companies from relocating to other jurisdictions. The bill creates an exemption from economic substance requirements for entities that are tax residents in other qualifying countries. Senators acknowledged this was an urgent fix needed before July 1st to keep Bermuda competitive with similar offshore financial centers. The bill passed all three readings in one sitting.

Chamber Senate
Date Jun 26, 2019
Session 2018/2019
Transcript View PDF
Speakers 1
Speeches 1

Key Topics

Economic Substance Amendment Act 2019 - urgent changes to tax residency rulesTheatre Boycott 60th anniversary commemoration (1959-2019)Gay Pride Parade security concerns and community tensionsBermuda men's football team performance in CONCACAF Gold CupChild and Family Services investigation questions

Bills & Motions

Economic Substance Amendment Act 2019 - passed first reading, second reading, and third reading (completed)
Premier, Ministers and Opposition Leader Personal Staffs Act 2019 - third reading postponed until next week
Four other bills received first reading: Government Loans Amendment Act 2019, Electricity Amendment Act 2019, Bermuda Economic Development Corporation Amendment Act 2019

Notable Moments

Senator Kempe criticized the government for not coordinating with other jurisdictions initially, calling the current disadvantage "self-imposed"
Senator Robinson publicly denounced threats against the LGBTQ community regarding the upcoming Pride Parade
The President read the names of surviving and deceased members of the 1959 Theatre Boycott Progressive Group

Debate Transcript

1 speech from 1 speaker
Madam President. The President Good morning, Senator. GAY PRIDE PARADE Sen. Anthony Richardson: Fellow Senator Robinson has, I guess, introduced a topic that is quite topical at this stage. And I too have given some consideration to it, but I think in a slightly different context. 538 26 June 2019 Official Hansard Report Bermuda …
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