President welcomes Assembly motion calling for review and clarifications of SI 148 on regulations concerning investment in economic activities in Seychelles |22 December 2020

Following the decision of the National Assembly on a motion brought by the leader of the opposition, Hon. Sebastien Pillay, to annul SI 148 Seychelles Investment (Economic Activities) Regulations 2020, the government has stated the following:

“It is worth noting that this particular Statutory Instrument was gazetted on October 19, 2020 by the then Minister for Finance, Trade, Investment and Economic Planning, Maurice Loustau-Lalanne, at a time when the National Assembly stood dissolved as per the order of former President Danny Faure.

“The government welcomes the decision of the National Assembly.

“An analysis has been formulated by the department of Investment surrounding the issues raised by the National Assembly. It appears that the National Assembly was not part of the discussion in the formulation of SI 148.

“From the consultation by the department of Investment, the following have come out:

(a) Members of the National Assembly raised some valid points which need to be taken into consideration. This includes the possibility of an error in regards to Section 1(5) (b) (7) which has to be clarified with the department of Trade.

(b) The leader of the opposition, the author of the motion and the leader of government business are being called upon to provide further clarity on the amendments they wish to bring to allow for the smooth review of SI 148.

(c) This will allow the government to steer the decision as to whether the Trade commitments need to be revised.

(d) It will grant the opportunity for the new administration to provide its stamp of approval on a piece of legislation that will be instrumental in the development of the private sector.

“The government reaffirms its commitment to working closely with the National Assembly, especially in listening to demands made through motions brought by members.”

Press release from the Office of the President