President Wavel Ramkalawan chaired a scheduled meeting of the Cabinet yesterday, Wednesday 31st March, at which a number of legal and policy memoranda were considered.

Cabinet approved the repeal of the National Institute of Science, Technology and Innovation Act, 2014 so that the structure and functions of the National Institute of Science, Technology and Innovation (NISTI) are integrated into that of the Entrepreneurship and Industry Department.

Cabinet approved for the repeal of the Act for Prevention of Drug Abuse and Rehabilitation.  Its functions will be integrated into a division of the Ministry of Health.

Cabinet also approved the Statute Law Revision (Miscellaneous Amendments) Bill, 2021 and the Criminal Offences (Standard Scale of Fines) Bill, 2021.

Cabinet approvedamendments of Section 29A of the Central Bank of Seychelles Act 2004.

Cabinet approved policy changes relating to the Companies Act, 1972.  The amendments deals with the appointment of a secretary to act on behalf of a domestic company existing under the Companies Act 1972.  The changes will allow for the effective implementation of the Beneficial Ownership Act 2020.

Cabinet also approved policy changes to the Beneficial Ownership Act and Regulations.

Cabinet approved amendments to the Licensing Act, 2010 – for Licensing of Secretaries.

Cabinet approved the development of a new Tax Management system.  The system which will be a fully-fledged modern tax management system compatible with the world wide web.   

Cabinet approved the Integrated Budget Calendar for 2022-2024.

Cabinet also approved to lift the moratorium on the cruise ship activities in Seychelles.   In the short and medium term, only smaller cruise ships with a maximum capacity of 300 passengers will be authorised in the country.