AMLCFT amendments for May 4 Sitting of National Assembly

Georgetown, GINA, April 19, 2016

Leader of Government business in the National Assembly, Prime Minister Moses Nagamootoo said that amendments to the Anti-Money Laundering and Countering the Financing of Terrorism (AMLCFT) Act are high on the agenda for the May 4, 2016 sitting of the National Assembly.
Prime Minister Nagamootoo in an invited comment to the Government Information Agency (GINA) said that the AMLCFT Act will undergo changes to meet the new demands for enforcement, seizures and confiscation of assets used in money laundering and to answer to those organisations which Guyana reports.
The Prime Minister said that the amendments are essential and urgent, “so we will bring back our Anti-Money Laundering and Countering the Financing of Terrorism law for further amendments.”
There are also a number of other bills on the agenda, more specifically a bill dealing with a comprehensive approach to insurance operations in Guyana.
“We must be able to have in one legislation a set of prescriptions that would make insurance companies serve the intentions they have been set up to serve, and not to leave areas for scamming,” the Prime Minister said.
This legislation is critical since insurance companies need a domain in which they can operate in Guyana. The government considers this legislation an important one. “Also on the cards are measures to deal with the telecommunications sector to refine the Bill,” the Prime Minister stated.
The issue of tobacco smoking, advertising and promotion in Guyana will also be addressed however; the Prime Minister anticipates that this will generate some concerns from the public. “This will be open to public consultations before a special select committee of the National Assembly,” he said.
Wildlife legislation and others dealing with animals and the fishing sector are also on the legislative agenda.
Prime Minister Nagamootoo pointed out that Government has taken a decision to present policies to the National Assembly.
“We have decided that we will circulate a white paper on the national youth policy that will be done shortly because many political parties have promised a national youth policy, but have never delivered so we have one that is available now.
A national land reclamation policy will be presented, as well which will comprehensively deal with issues of land, land distribution, land preservation and land reclamation.
In the long-term, there are several pieces of legislation that will be introduced by Government in the National Assembly; among these are witness protection legislation, campaign financing and reform of broadcast legislation.
Members of the National Assembly are currently on a recess to facilitate capacity building sessions for staff of the Parliament and also to facilitate Government Ministers attending international meetings and fora.

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