ARTICLE · 30 MARCH 1999

News Release - 'Important Step For Finance Centre'

Government of Gibraltar

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Date of Release: Thursday 25 March 1999

TWO BILLS were passed in the House of Assembly on 18 March to replace the Financial & Development Secretary with the Finance Centre Director "or such other public official as appointed by the Minister for Trade and Industry" in the discharge of the various functions under the Companies Taxation and Concessions Ordinance and the Income Tax Ordinance.

The former ordinance, said the Minister "deals with the important area of exempt company authorisations". He also said that the relevant support staff will also physically move from the F&DS's office to the DTI. The move is part of a wider transfer of functions that the Government has already announced. Responsibility for the granting of qualifying company certificates will also be transferred, hence the amendment to the latter ordinance as well.

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