Skip to main content
Senate Session 2023/2024 11 speeches

March 13, 2024

Official Hansard Report - Senate

Download PDF transcript

Session Summary

Simplified for You

The Senate passed two related bills introducing new annual fees for companies registered in Bermuda - $500 for international companies and $150 for local companies - to help fund the Registrar of Companies' expanded regulatory duties. They also approved a 15-year tax relief package for the Azura Bermuda hotel project, which involves a $47 million investment and must maintain 70% Bermudian staffing. Minister Darrell delivered a comprehensive statement about the 42nd Annual Sports Awards, highlighting top athletes like Jessica Lewis and Conor White as Athletes of the Year.

Chamber Senate
Date Mar 13, 2024
Session 2023/2024
Transcript View PDF
Speakers 4
Speeches 11

Key Topics

New regulatory fees for companies registered in Bermuda to fund expanded oversight by the Registrar of CompaniesTourism tax relief for the Azura Bermuda hotel development (formerly Surf Side Beach Club)Annual Sports Awards ceremony recognizing Bermuda's top athletes and sports contributorsPresentation of various government department reports including housing trust and economic development

Bills & Motions

Registrar of Companies (Annual Corporate Regulatory Fees) Act 2024 - passed all readings
Registrar of Companies (Annual Corporate Regulatory Fees) (No. 2) Act 2024 - passed all readings
Tourism Investment (Azura Bermuda) Order 2024 - approved
Economic Development Amendment Act 2024 - carried over to next session

Notable Moments

Opposition questioned why the new company fees are retroactive to February 9th, with the government explaining it was simply a timing issue to get the legislation in place before the new fiscal year
Debate over extending hotel tax relief from 10 to 15 years, with Opposition asking about the cost of foregone tax revenue and Minister Darrell defending it as necessary to compete with other jurisdictions
Minister Darrell gave detailed examples of Bermudians working in the tourism industry to address concerns about meeting the 70% local employment requirement

Debate Transcript

11 speeches from 4 speakers
The Speaker The Speaker Thank you, Vice President, Senator Kiernan Bell. MESSAGES The President: Ms. Beale. The Assistant Clerk: There are no messages, Madam President . The President: Thank you, Ms. Beale. REPORTS OF COMMITTEES The President: There are none. ANNOUNCEMENTS APOL OGIES The President: I have one announcement and that is that Senator …
Madam President . The President Thank you, Minister Darrell. There is a second one that is in the name of Senator Arianna Hodgson, the Junior Minister for Finance. Senator Hodgson, you have the floor. ISSUANCE OF NEW GOVERNMENT GUARANTEES Sen. Arianna Hodgson: Thank you, Madam President. Madam President, I hereby present for the information of …
The Speaker The Speaker Thank you, Senator Hodgson. There is another one in the name of Senator Robinson. Minister Owen Darrell, you will present for her. ECONOMIC DEVELOPMENT DEPARTMENT FINTECH 2023 YEAR END REPORT 154 13 March 2024 Official Hansard Report Bermuda Senate Sen. the Hon. Owen Darrell: Thank you, Madam President . I …
Sen. Dr. Douglas De Couto Thank you, Madam President , and thank you, Senator, for that presentation of the Bill. Broadly, we do support the Bill. We recognise the changing and expanding role of the Registrar of Companies in our modern world. We also recognise that it is important that they are appropriately staffed and …
Sen. Rev. Dr. Emilygail A. Dill Thank you, Madam President . I just would like to commend the Government on the intentionality and the continued development of the infrastructure that would be consistent with the growth in the business industry. Certainly the fees would be consistent with the need to be able to cover the cost …
Sen. Dr. Douglas De Couto Thank you, Madam President , and thank you to the Senator for that presentation. As we said on the earlier Bill, these two Bills go together (is my understanding) and this Bill amends various other bits of legislation so that the fees all work together and have all the right …
Sen. Dr. Douglas De Couto Thank you, Madam President . If I just may follow on [with] the comments. Would the Minister happen to know what the current percentage number of Bermudian workers is at this facility, at this property? And I also look forward to the answer to questions from my colleague about plans …
Sen. Dr. Douglas De Couto Point of order, Madam President . POINT OF ORDER
Sen. Dr. Douglas De Couto I believe we are discussing the Azura property. And we have a specific question with respect to the Azura property — Sen. the Hon. Owen Darrell: Madam President, we are talking about the question about how many locals are actually in the tourism industry. And I am taking the opportunity …
Sen. Dr. Douglas De Couto Thank you very much, Madam President . I of course also would like to associate with the comments regarding Ms. Richardson and all the women of Bermuda. I will leave it short like that. What can I add? I would like to thank Casa dos Aç ores on their ninth …
Sen. Rev. Dr. Emilygail A. Dill Thank you, Madam President , and good morning once again to our listening audience. I would like to associate myself with the condolences offered by Senator Darrell to the family of Mr. Charles Daniels who was indeed an extraordinary individual. And I would also like to offer some congratula-tions this …
Hansard Transcript Open in new tab