Corporate Governance Council to get start-up advance

POSTED: 03/10/11 12:12 PM

St. Maarten – The Council of Ministers has decided to grant the Corporate Governance Council a 400, 000 guilder advance on its budget for 2011 to allow it to become operational. The decision taken on Tuesday and announced on Wednesday now gives the government more time to finalize a division key for the contributions that the government owned companies are legally bound to make.
“The island ordinance gives no further indication as to how this budget will be divided amongst the companies or how it would be had from the companies. So there have been discussions back and forth as to how best to regulate it, because it needs to be regulated how the money will be had from the companies,” the prime minister said.
In the discussion on Tuesday the Ministers looked at a proposed division key, but they want more for study so they can determine whether or not the companies can afford the payment and how exactly it should be done. For example parties wonder if it should be equal payments or based on the capital of the companies.

The prime minister said the Council of Ministers also wants to meet the Council to discuss the specific items in the budget. That notwithstanding there is a commitment to paying the advance.
As it relates to a choice buy valium xanax online between the national ordinance on Corporate Governance adopted by the Parliament of the Netherlands Antilles and the island ordinance on corporate governance Wescot-Williams confirmed that as part of the discussions for the island to obtain country status that it was agreed that only national ordinances on matters that were not already island ordinances would be taken over from the government of the Netherlands Antilles. However she does not believe this removes the option for government to make changes that it sees fit.
“It does not prevent government from making changes to any island ordinance that has become legislation for country St. Maarten. What I have indicated on more than one occasion is that, that being the case, that right now we go from the premise of the island ordinance. However there have also been discussions on the Antillean Law on Corporate Governance and whether there are not elements in that law that we would like to take over. That complete review has not been done yet to come to a definite determination. In fact there are other regulations and policies regarding corporate governance and government’s role on corporate governance so nothing prevents government from having a review of the current legislation that governs corporate governance or any other matter,” Wescot-Williams said.

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