The Pensions Federation indicated that it was not pleased with the minister’s explanation which, in its opinion, will lead to an unnecessary administrative burden for pension funds.Last year, the industry organisation had already said that registering pension board members as UBOs was “not appropriate and disproportional”.As part of the EU’s anti money laundering policy, all EU member states must keep a register of ultimate stakeholders of legal bodies and entities, which is accessible for the police, tax authorities as well as the Public Prosecutor.It hadn’t been clear for a while whether pension fund trustees qualified as UBOs.Although they are board members of pension funds managing large amounts of money, they don’t own the pension funds or their assets.The Pensions Federation had also argued that asset managers also check their clients for money laundering risks and financing of terrorism. All trustees of Dutch pension funds must register as “ultimate beneficial owners” (UBOs) as part of the European Union’s policy against money laundering, the Dutch finance minister has said.Answering questions posed by the Christian Democrats (CDA) in the senate, Wopke Hoekstra said he didn’t want to make an exception for board members of pension funds.However, he acknowledged that it was unlikely that pension funds harboured natural persons who qualified as UBOs based on interests as an owner, voting rights or right of say.If an UBO at a pension fund can’t be clearly identified, the scheme’s entire board must be registered as a “pseudo UBO”, Hoekstra stated.
The stadium redevelopment is due to be complete by next July but Chairman Ger Lane says it won’t be done in time for the provincial quarter-final with the Premier.A date, venue and throw-in for the tie will be decided at a later date by the Munster Council.
The Supreme Court yesterday ordered a halt with immediate effect to the ongoing demolition exercise led by the Special Presidential Taskforce. The Taskforce was set up with a mandate to beautify the City of Monrovia, but the court ordered that it must stop until a judicial review of its scope of operation can be decided by the court.Yesterday’s decision was taken by Justice Presiding in Chambers, Associate Justice Kabineh M. Ja’neh, following a petition for a Writ of Prohibition filed to the High Court by a group under the banner, “Aggrieved Destroyed Properties Owners of Central Monrovia, Bushrod Island, Sinkor, Gardnersville and the New Georgia Community.” Cllr. Dempster Brown of the Center for the Promotion of Human Rights filed the complaint on behalf of the aggrieved residents.The people are celebrating yesterday’s decision by Justice Ja’neh, who in a communication to Taskforce leader Madam Mary Broh, instructed her to stop further demolitions pending the outcome of a conference scheduled for December 7.The Broh committee was in October, constituted by President Ellen Johnson Sirleaf with a clear mandate to clean up the City of Monrovia from November 15 to December 15, which operation has met legal and other challenges.Further in their complaint, Cllr. Dempster Brown argued that the Presidential Committee does not have judicial power to close down businesses, institutions and demolish private homes because of any violation, ignoring city ordinances and zoning laws.“If they have violated zoning laws and city ordinances, the Presidential Taskforce should have instituted legal proceedings against them, and or any citizen in Monrovia, who violated such law to the Monrovia City Court, “Cllr. Brown’s complaint to Justice Ja’neh stated.Instead, he alleged, “the committee is using police power by brutalizing, intimidating and harassing peaceful citizens under the guise of carrying out their presidential mandate to clean Monrovia.”Cllr. Brown begged the court to issue the writ of prohibition against the Presidential Task Force in order to restrain and prohibit what they consider to be the unlawful acts of destroying the private properties of peaceful citizens , police brutality, harassment and intimidation pending the outcome of the hearing.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)
City of Life newly constructed water processing plant at Upper Caldwell in Monrovia– Urges GOVT to Treat Liberian Business entities with dignityCity of Life Mineral Water Incorporated (CLMWI) after a week’s closure and the seizure of vital equipment from its facilities on Bushrod Island will take legal action against the National Public Health Institute (NPHI).In a strongly worded statement at a press conference in Monrovia on Sunday, proprietor Omaru Sheriff told newsmen that a legal team has been assembled to seek redress in the court. In a writ of summons issued on July 21 at the New Kru Town Magisterial Court, Sheriff claimed an action of economic sabotage against NPHI. The writ alleged that NPHI’s action is a violation of 14.51, 15.80 and 14.27 of the New Penal Code Law of Liberia.Accordingly, the writ said officials of NPHI must appear in court to show cause why they should not be held for economic sabotage against the company. The statement said CLMWI is a reputable and legitimate business entity that is in compliance with the General Business Law of Liberia and policies governing the water industry and all safety, environmental, health and sanitary standards established by the government.The court document said the CLMWI cooperated under the watchful eyes of the joint inspection and mapping exercise of its establishment in the protection of packaged drinking water for commercial purposes in Liberia. Besides, it noted that as a one hundred percent Liberian owned company and being mindful of the health and safety of the general public, CLMWI has consistently seen to it that the company complied with all regulatory agencies overseeing the sachet water industry.“Our company has come out successfully, with all of the preconditions, qualifications, and benchmarks that are required to satisfy prior to being allowed to continue production,” the statement said.The writ said the CLMWI has on many occasions disagreed with an increment in the price of mineral water in the country owing to fact that such increment would hurt many Liberians. Court documents quoted the complainant, however, as saying that the recent action by the NPHI is a gross witch hunt and intimidation of a legitimate Liberian business that continues to offer safe drinking water, and is a duly registered business entity in the country.Mr. Sheriff told reporters that the action by the NPHI was not a collective decision of stakeholders in the water sector. He further told reporters that those that are out to hike the price of mineral water want to punish the CLMWI by using some Liberian government agencies in the country. Proprietor Sheriff called on the government to swiftly intervene and bring the situation under control.Mr. Sheriff recalled that on February 13, 2017, the National Standard Laboratory conducted its testing relative to the quality of CLMWI water and declared that the water was safe for drinking. Mr. Sheriff has urged the government and stakeholders in the water sector to treat Liberian businesses with dignity and protect them against some greedy minded Liberians in the country.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)
Here’s the top transfer-related stories in Friday’s newspapers…Arsenal are closing in on a £25million deal for Porto striker Jackson Martinez. Gunners manager Arsene Wenger has singled out the Colombian striker as one of the men he wants to reinforce his side for a serious title challenge next season. (Daily Express)Manchester United are also after a Colombian striker – Sevilla’s Carlos Bacca. United have emerged as favourites to land the prolific hitman in a £21.3million deal. (Metro)Tim Sherwood has admitted he is powerless to stop Christian Benteke leaving Aston Villa this summer after revealing the striker has a £32.5million release clause in his contract. Liverpool are readying a bid for the Belgian, but Sherwood reckons he should hold out for Real Madrid. (Daily Mail)Manchester City are refusing to give up on James Milner. The club’s hierarchy believe the England international can still be persuaded to sign a new contract, despite interest from Liverpool and Arsenal. (Manchester Evening News)Burnley striker Danny Ings is set to decide between a move to Liverpool or Tottenham before flying out to the Czech Republic with the England Under-21s for next month’s UEFA Euro U21 Championships. (Daily Telegraph)Southampton boss Ronald Koeman has opened talks with Lille over a £7million move for Idrissa Gueye. Koeman wants the Senegal midfielder to replace Arsenal target Morgan Schneiderlin. Schneiderlin is hankering for a move to a Champions League club, with the Emirates his most likely destination, and Gueye is seen as the ideal man to take his place at St Mary’s. (Daily Mirror)Everton are looking to sign Fulham’s French prodigy Moussa Dembele. Feyenoord and Genoa are also in the running for the 18-year-old’s services, but youngster may wish to continue his development in England. (Daily Star)Stoke City lead the chase for Boca Juniors hot shot Jonathan Calleri but face strong competition from teams in France and Italy. The 21-year-old impressed Potters’ scouts and the Premier League club followed up their interest by making an official enquiry for the £5m-rated forward. (Daily Mail)And here’s the latest talkSPORT.com headlines…Arsenal report: £15m transfer fee set for goalkeeper targetReal Madrid vehemently deny reports they made an approach for Juventus’ Paul PogbaArsenal lose out to Juventus in race for Real Madrid starMan United and Man City target refuses to commit future to Bundesliga sideExclusive – Louis Saha warns Manchester United’s title hopes will be in tatters if David De Gea leavesArturo Vidal latest: Juventus want £30m for Arsenal targetMontpellier will know in 15 days whether they can sign Liverpool and Newcastle targetNew Lille manager puts West Brom target on top of his transfer wish listExclusive – Man City shouldn’t sell one of the best midfielders in the world, claims Micah RichardsFormer Hull and Newcastle midfielder Hatem Ben Arfa agrees Nice dealLiverpool transfer news: Goalkeeper target nears decision over futureExclusive – Outgoing Man City defender Micah Richards tells interested clubs: I want guaranteed game timeLeandro Bacuna fears Christian Benteke could leave Aston Villa