President Mohamed Nasheed has today ratified three bills passed by the People’s Majlis.
The three bills ratified by the President are, Partnership Bill and the First Amendment Bill to Tax Administration Act (Act number 3/2010) passed during the Parliament’s sitting on 19 December 2011, and National Health Insurance Scheme Bill passed during its sitting on 21 December 2011.
Following ratification, the three Acts have been published in the government Gazette.
Partnership Act states the guidelines for the formation, registration and operation of partnerships in the Maldives. A partnership is the business association of two or more persons in which each agrees to furnish a part of the capital and labor for a business enterprise, and bearing separate names. Under this act, partnership is categorised into General Partnership and Limited Liability Partnership.
The National Health Insurance Scheme Act states the principles for the facilitation of a sustainable system of affordable and quality primary healthcare on a national level, for the people of the Maldives.
This Act will be implemented starting today, and according to this act, the scheme is to commence on 1 January 2012.