February 20, 2025
THIMPHU – The National Council (NC) is gearing towards ensuring effective laws and regulations in the country to realise the national vision and also to align the country’s laws and regulations with the Gelephu Mindfulness City (GMC).
NC members met on February 13 to understand what needs to be done to fulfil the Royal Address on the 117th National Day, which emphasised four thematic areas—meritocracy and democracy, enlightened entrepreneurial bureaucracy, economic enhancement laws, and population empowerment.
Particularly, His Majesty highlighted that laws are the foundation of order, security, prosperity, and social harmony. His Majesty addressed that many countries face challenges due to overabundance of laws, poor public understanding, and weak enforcement, which burden the people and stifle innovation and enterprise.
NC’s Spokesperson and Deputy Chairperson, Dago Tsheringla, said that NC would align all its activities towards fulfilling the grand national vision. “NC did a recapitulation exercise on His Majesty’s address to the nation related to laws on 117th National Day.”
Dago Tsheringla said that NC would cautiously invest its efforts in consolidating, amending, and enacting laws as per the needs of the country. The aim, he said, would be to ensure smooth convergence of the GMC with the rest of Bhutan with the best legal systems in 10 years. Dago Tsheringla said: “While preparing for the summer session, NC members in their respective committees are instructed by the House to identify which laws in the country require consolidation or amendment and what new laws have to be enacted based on His Majesty’s 117th National Address.”
He said members have to make a comprehensive presentation to the House in April with proper research and objectives. “Then the House will prioritise which laws in the country require early consolidation, amendment, or what new laws have to be enacted first.”
Dago Tsheringla said NC would conduct comprehensive discussions with relevant organisations and agencies, and constitutional offices to align national laws with GMC. He said each of the NC’s five committees with experienced members would carry out the tasks.
During the meeting on February 13, NC members were also presented with the Schedule A and Schedule B laws for the GMC, which came into effect on December 26, 2024.
GMC has adopted 18 Singaporean laws (Schedule A) and 10 Abu Dhabi Global Market (ADGM) Financial Services Regulations (Schedule B) to guide its governance in areas such as company incorporation, employment, taxation, and financial services, among others.
The Singaporean laws incorporated into GMC include Companies Act 1967, Contracts (Rights of Third Parties) Act 2007, Customs Act 1960, Electronic Transactions Act 2010, Employment Act 1968, Employment of Foreign Manpower Act 1990, Goods and Services Tax Act 1993, and Immigration Act 1959.
Other key legislation includes Income Tax Act 1947, Insolvency, Restructuring and Dissolution Act 2018, Interpretation Act 1965, Official Secrets Act 1935, Personal Data Protection Act 2012, Property Tax Act 1960, Sale of Goods Act 1979, Spam Control Act 2007, Stamp Duties Act 1929, and Unfair Contract Terms Act 1977.
The 10 ADGM regulations adopted by GMC include the Financial Services and Markets Regulations 2015 and related rules, such as the Anti-Money Laundering and Sanctions Rules and Guidance, Captive Insurance Business Rules, Conduct of Business Rulebook, among others.
Dago Tsheringla said NC would also study the compatibility of laws in Bhutan and GMC. “For instance, both GMC and Bhutan have the Companies Act, Employment Act, Income Tax Act, and Property Tax Act, and we have to compare them and discuss what needs to be done”.