|
No. 13 of 2004 |
AN ACT TO AMEND THE BUSINESS
LICENCE ACT |
TO MAKE PROVISION FOR A TEMPORARY |
BUSINESS LICENCE AND FOR ANCILLARY
MATTERS |
[Date of Assent - 10th August,
2004] |
Enacted by the Parliament of The
Bahamas. |
1. This Act, which amends the
Business Licence Act, may be cited as the Business Licence (Amendment) Act,
2004. | Short title Ch. 329. |
2. Section 3 of the principal
Act is amended - | Amendment of section 3 of the
principal Act. |
(a) in subsection (1), by the
deletion of the words “5, and 6”, and the substitution therefor of the words
“5, 6 and 6A”; and |
(b) in subsection (4), by the deletion
of the words “section 6” where these words first appear and the substitution
therefor of the words “sections 6 and 6A”. |
3. Subsection (1) of section 4
of the principal Act is amended | Amendment of section 4 of the principal
Act. |
(a) by the deletion of the word “Nil”
in paragraph (a) and the substitution therefor of the word
“$100.00"; and |
(b) by the deletion of the full stop
appearing after paragraph (f) and the insertion of the following paragraph - |
|
“(g)
|
temporary business
|
1% of its turnover.”.
|
|
4. Subsection (4) of section 6
of the principal Act is amended by the deletion of the words "ten
dollars" and the substitution therefor of the words "one hundred
dollars". | Amendment of section 6 of the
principal Act. |
5. The principal Act is amended
by the insertion immediately after section 6 of the following new section - | Insertion of new section 6A into the
principal Act. |
“Temporary business licence.
| 6A.(1) Notwithstanding anything to the
contrary in section 6(1) of this Act, where after the coming into operation of
this section a foreign person intends in any year to enter into a contract
business he shall prior to the commencement of such contract make application
in the prescribed manner for a temporary business licence. |
| | (2)Every foreign person that applies
for a licence under subsection (1) shall, prior to the issue of such licence,
pay a deposit of 1% of the value of the contract as security for the payment of
the licence fee to be assessed. |
| | (3)Where a foreign person fails to
pay a deposit under subsection (2) the Minister may refuse to grant a licence
to such person. |
| | (4)Every foreign person issued a
licence under subsection (1) shall produce to the Secretary within ten days of
the completion of the contract, a complete account of its contract to enable
the Secretary to assess the fees and the Secretary may within two weeks after
receipt of such accounts proceed to make an assessment in accordance with this
Act of the fee payable by that applicant for the licence and demand payment by,
or effect a refund to him of the deposit held under subsection (1) as the case
may be. |
| | (5)A foreign person may not during
the continuation of a contract apply for a temporary business licence for a new
contract without the approval of the Minister. |
| | (6)A subsequent licence shall not be
issued under this section where it is established that the applicant procured
the contract during the term of another contract in The Bahamas. |
| | (7)This Act shall be complied with
before an applicant under subsection (1) is designated “resident” for Exchange
Control purposes and before permission is granted to the applicant to hold a
local bank account. |
| | (8)A person who knowingly enters
into a contract for goods or services with a foreign person who is not in
possession of a temporary business licence in accordance with subsection (1)
commits an offence. |
| | (9)A foreign person who contracts to
carry on a contract to do business without a temporary business licence commits
an offence. |
| | (10)A person who contravenes
subsections (8) and (9) shall be liable on summary conviction to a fine of one
hundred thousand dollars and in addition to the fine, a sum of five thousand
dollars for each day the offence continues subsequent to the date to which the
conviction relates. |
| | (11)In this section, unless the
context otherwise requires - |
| | “foreign person” means - |
| | (a) a person who is not a citizen
of The Bahamas; or |
(b) a company incorporated in The
Bahamas under the Companies Act, where any of its shares or other capital is
beneficially owned by a person who is not a citizen or where it is in any
manner, whether directly or indirectly, controlled by one or more of these
persons; or | Ch. 308. |
(c) a company incorporated at any
place outside The Bahamas engaged in the provision of a temporary
business; |
“licence” means a temporary business licence
issued for a temporary business; |
“temporary business” means a business undertaking
in respect of the execution of a specific contract for a specified period not
exceeding three years.”. |
6. Subsection (3) of section 8
of the principal Act is repealed and replaced by the following - | Amendment of section 8 of the
principal Act. |
“(3) Subject to this section and
section 6A, a company designated as non-resident under the Exchange Control
Regulations Act shall pay a fee of three hundred dollars in lieu of the payment
of a fee under section 4: | Ch. 360. |
Provided that the provisions of
this sub-section shall not apply to an application by a foreign person engaged
in a contract for the provision of a temporary business.”. |
7. Section 9 of the principal
Act is amended by the insertion of the words “6A(6),” immediately after the
words “6(6)”. | Amendment of section 9 of the
principal Act. |
8. Subsection (1) of section 10
of the principal Act is repealed and replaced by the following - | Amendment of section 10 of the
principal Act. |
“(1) Where the applicant for a licence has
tendered a sum of money pursuant to sections 4 and 6A(4) respectively, the
Secretary may - |
(a) in the case of an annual
business licence within two years of the date of the issue of that
licence; or |
(b) in the case of a temporary
business licence within two weeks of the completion of the project, |
proceed to make an assessment of the fee payable
by that applicant for the licence and thereafter, in keeping with that
assessment, demand payment by, or effect a refund to, him of any sum, as the
case may be.”. |
9. Subsection (2) of section 13
of the principal Act is amended by the insertion of the words “or the expiry
date of a temporary business licence” immediately after the words “December of
that year”. | Amendment of section 13 of the principal
Act. |