Regulatory Alerts1997-01-01
International Trade Zone (Amendment of Schedule) Regulations, 1997
The Minister of Finance and Communications issued the International Trade Zone (Amendment of Schedule) Regulations, 1997 to amend the schedule of the International Trade Zone Act, 1995. The amendment repeals item 4 and substitutes a new provision specifying that license holders are classified as employers under Section 3(1)(b) of the Social Security Act. Consequently, these license holders become legally liable to pay mandatory contributions to the Social Security Fund.
[17th March] Supplement to Official Gazette 487
S.I. 22 of 1997 (AP 102A (1))
INTERNATIONAL TRADE ZONE ACT, 1995 (Act 8 of 1995)
International Trade Zone (Amendment of Schedule) Regulations, 1997
In exercise of the powers conferred by section 14 (1) of the international Trade Zone, Act, 1995, the Minister of Finance and Communications hereby makes the following Regulations.
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This Notice may be cited as the International Trade Zone (Amendment of Schedule) Regulations, 1997. Citation
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The Schedule of the International Trade Zone Act, 1995 is amended by repealing item 4 and substituting therefor in the appropriate columns the following item — Amendment of Schedule of Act 8 of 1995
"4 Social Security Act 4 Section 3 (1) (b) in so far as it requires the holder of a licence as an employer to be liable to pay contributions to the Social Security Fund".
MADE this 7th day of March 1997.
J. MICHEL MINISTER OF FINANCE AND COMMUNICATIONS