BSP drops ‘Super Tax’ challenge in Supreme Court

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BSP drops ‘Super Tax’ challenge in Supreme Court

PORT MORESBY: After all the hoo-haa over the “Super Tax” imposition by the Government, Bank South Pacific Financial Group Ltd (BSP) has withdrawn its application filed in the Supreme Court seeking to declare the additional company tax of K190 million unconstitutional.

Representing BSP, Lubia Evore appeared before Deputy Chief Justice Ambeng Kandakasi in Waigani on Thursday (Aug 25, 2022) and sought leave to withdraw the application due to a recent unrelated Suipreme Court proceeding that dismissed an application filed by Justice Foundation for Porgera Ltd because it did not meet the signing for a company making a Constitution Section 18 application to the Supreme Court.

The National reported the court proceedings:

 

BSP drops ‘super tax’ challenge

August 29, 2022The NationalNational

BANK South Pacific Financial Group Limited (BSP) has withdrawn its application filed in the Supreme Court seeking to declare the additional company tax of K190 million unconstitutional.
Representing BSP, Lubia Evore appeared before Deputy Chief Justice Ambeng Kandakasi at Waigani on Thursday and sought leave to withdraw the application due to a recent unrelated Supreme Court proceeding that dismissed an application filed by Justice Foundation for Porgera Ltd because it did not meet the signing requirements for a company making a Constitution section 18 application to the Supreme Court.
The Supreme Court stated that requirements should be that:

  • THE common seal of the company must be affixed; and
  • THE application must be signed by a proper officer of the company who states that they are signing to and on behalf of the company, by reference to the date and resolution number of the meeting of the board of directors by which authorisation of the making and signing of the application was given.

“In the current proceeding, the application filed by BSP on May 20 affixes the common seal of BSP, affixes the signatures of two directors.
“And has the words ‘the common seal of BSP Financial Group Limited, the applicant was hereunto duly affixed with authority of its board in the presence of’.
“Although the BSP board has passed a resolution in respect of commencing this proceeding, signing and affixing of the BSP common seal to the application filed on May 20, the words in relation to the signatures and the common seal being affixed to the application do not contain a reference to the date and resolution by the BSP board,” Evore said.
Solicitor-General Tauvasa Tanuvasa representing the Attorney-General agreed to the withdrawal of the proceeding.
Justice Kandakasi then granted leave to BSP to withdraw the application.

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