President Danny Faure chaired a scheduled meeting of the Cabinet on Wednesday 9th September, at which a number of legal and policy memoranda were considered.
Cabinet endorsed a revised policy concerning the Credit Information System (CIS) coordinated by the Cental Bank of Seychelles, which aims to broaden the scope of the CIS with introduction of a Credit Reporting Act for Seychelles. This will permit other institutions in the country to provide value-added data to creditors.
Cabinet also approved Amendments to the Financial Institutions (Capital Adequacy) Regulations 2010 to remove reference to offshore banks in accordance with international norms.
Cabinet approved amendments to the Foreign Exchange Act, 2009. This amendment will allow for the inclusion of the Credit Union as an authorised dealer to enable the Credit Union to undertake foreign currency services to non-members.
Cabinet also approved the review of the Environment Protection (Impact Assessment) Regulations 1996 with a modern and practical set of regulations. This will allow the Environment Department to align the list of existing regulations with the newly enacted Environment Protection Act 2016 (EPA 2016) in order to facilitate its enforcement.
Cabinet also approved the final draft of the Regulations for Aquaculture under the Fisheries Act 2014.
Cabinet approved for the extension of the existing net repair quay (EU quay) at Zone 14, Ile du Port to accommodate long line vessels and also to provide land for its associated land base facilities.
Cabinet also approved the request by Government to introduce Regulations concerning the minimum standards on the quality of imported hand sanitisers.
Cabinet endorsed for the requirement for a health certificate, and a catch certificate for all commercial exports and all other fisheries exports above 20kg, andto apply additional controls on the “non-commercial” exports of fish and fisheries products.
Cabinet was updated on the status of the refurbishment work being undertaken on the Baie Ste Anne Power Station and approved for the removal of any development restrictions on residential plots in the area to allow residents who wish to remain there to develop their property.
Cabinet approved for the implementation of the Hazardous Material Management (Hazmat) project proposal for the year 2021 to 2022 to establish and develop an integrated and harmonized Hazardous Material (HazMat) management system for the country.
