Companies (Ratification of Deferred Returns Fees and Taxes) Amendment Act
Passed
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What this bill does
This bill officially approves the government's decision to extend company filing deadlines from March 31 to June 30, 2020 due to COVID-19 office closures. It also gives the Finance Minister permanent power to delay company filing deadlines during future emergencies or exceptional circumstances.
If Passed (Voted Yes)
The COVID-19 deadline extension that already happened in 2020 becomes officially legal and valid
The Finance Minister can delay company filing deadlines in future emergencies without needing new laws each time
Companies would have legal protection from penalties during officially declared emergency periods when deadlines are extended
If Rejected (Voted No)
The 2020 COVID-19 deadline extension remains legally uncertain, potentially creating problems for companies that filed late
The government would need to pass new laws each time they want to extend company filing deadlines during emergencies
Companies might face legal uncertainty about whether deadline extensions during emergencies are valid
Who It Affects
This primarily affects Bermuda companies (both local and international permit companies) that must file annual returns and pay fees to the government. It also affects the Finance Minister by giving clearer legal authority to manage filing requirements during crises.
Vote counts are not published.
The Bermuda Parliament does not publicly record individual vote counts or how each member voted.
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Related Bill
Companies (Ratification of Deferred Returns Fees and Taxes) Amendment Act
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