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Majlis sends
securities bill to its economic matters committee
 MALE,
April 5 -- After four days of wide and extensive debate, the
People’s Majlis have finally sent the Maldives Securities Bill
to its Standing Committee on Economic Matters. The decision
was reached at Monday’s tenth sitting of the first session of
the Majlis with a vote of 33 Members out of the 40 present and
voting at the time.
The Bill was tabled by the Government on 24 March 2005, at the
seventh sitting of the first session of the Majlis. The Bill
is aimed at creating a capital market development authority
and the establishment of a stock exchange in the Maldives and
providing for the relevant regulatory frameworks and
procedures.
The Bill was sponsored in the Majlis, for and on behalf of the
Government, by Minister of Finance and Treasury Mohamed Jaleel.
Subsequent to sending the Securities Bill to the Economic
Matters Committee, the Public Finance Bill was tabled at
Monday’s sitting. This Bill is also sponsored by the Minister
of Finance and Treasury for and behalf of the Government.
The Bill aims at providing for the control and management of
the finances and property of the State; to allow for financial
and accounting procedures to be established in relation to
those finances and property; and to prescribe the form and
manner in which the accounts of the State shall be kept and
maintained.
Monday’s sitting, attended by 40 Members, was presided by the
Speaker of the People’s Majlis Ahmed Zahir.
Majlis will meet again on Thursday.
:: Source:
Haveeru ::
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