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Bahamas Numbered Acts |
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No. 13 of 2004 |
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AN ACT TO AMEND THE BUSINESS LICENCE ACT |
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TO MAKE PROVISION FOR A TEMPORARY |
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BUSINESS LICENCE AND FOR ANCILLARY MATTERS |
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[Date of Assent - 10th August, 2004] |
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Enacted by the Parliament of The Bahamas. |
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1.
This Act, which amends the
Business Licence Act, may be cited as the Business Licence
(Amendment) Act, 2004.
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Short title Ch. 329. |
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2.
Section 3 of the principal Act
is amended -
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Amendment of section 3 of the principal Act. |
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(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
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(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".
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3.
Subsection (1) of section 4 of
the principal Act is amended
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Amendment of section 4 of the principal Act. |
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(a)
by the deletion of the word "Nil"
in paragraph (a) and the substitution therefor of the word
"$100.00"; and
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(b)
by the deletion of the full stop
appearing after paragraph (f) and the insertion of the following
paragraph -
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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".
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Amendment of section 6 of the principal Act. |
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5.
The principal Act is amended
by the insertion immediately after section 6 of the following new
section -
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Insertion of new section 6A into the principal Act. |
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"Temporary business licence.
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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. |
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(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.
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(3)Where a foreign person fails to pay a deposit under
subsection (2) the Minister may refuse to grant a licence to such
person.
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(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.
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(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.
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(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.
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(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.
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(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.
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(9)A foreign person who contracts to carry on a contract to
do business without a temporary business licence commits an
offence.
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(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.
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(11)In this section, unless the context otherwise requires
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"foreign person" means - |
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(a)
a person who is not a citizen
of The Bahamas; or
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(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
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Ch. 308. |
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(c)
a company incorporated at any
place outside The Bahamas engaged in the provision of a temporary
business;
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"licence" means a temporary business licence issued for a temporary business; |
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"temporary business" means a business undertaking in respect of the execution of a specific contract for a specified period not exceeding three years.". |
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6.
Subsection (3) of section 8 of
the principal Act is repealed and replaced by the following -
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Amendment of section 8 of the principal Act. |
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"(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. |
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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.". |
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7.
Section 9 of the principal Act
is amended by the insertion of the words "6A(6)," immediately after
the words "6(6)".
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Amendment of section 9 of the principal Act. |
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8.
Subsection (1) of section 10
of the principal Act is repealed and replaced by the following
-
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Amendment of section 10 of the principal Act. |
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"(1) Where the applicant for a licence has tendered a sum of money pursuant to sections 4 and 6A(4) respectively, the Secretary may - |
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(a)
in the case of an annual
business licence within two years of the date of the issue of that
licence; or
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(b)
in the case of a temporary
business licence within two weeks of the completion of the
project,
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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.". |
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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".
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Amendment of section 13 of the principal Act. |
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