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AML/CFT Bill… CPC to ‘reformulate’ third draft of APNU’s proposed amendments

Mar 26, 2014 News

The Parliamentary Select Committee on the Anti-Money Laundering and Countering the Financing of Terrorism (AMLCFT) Amendment Bill, met again last evening, but failed to make any positive headway as A Partnership for National Unity (APNU)’s proposed amendments continue to be problematic.
According to Minister within the Ministry of Finance, Juan Edghill, the entire meeting was spent “looking at what can best be described as the reformulation of Mr. (Carl) Greenidge’s proposal or amendments”.
Minister Edghill said, at the previous meeting the draft amendments were looked at, by the committee but Mr. Greenidge asked for some time to reformulate the proposed amendment and to submit that to the Chief Parliamentary Counsel.
“The Chief Parliamentary Counsel having received those instructions and that formulation put out a new draft, and today we looked at that draft, but again there is still need for another reformulation of that second draft,” he said.
“There is still need for another reformulation because he (Mr. Greenidge) is still thinking and while he is thinking it seems to be an unending open-ended process of trying to put some administrative structure in place that will satisfy the requirements of the international standard which we have not yet gotten right”.
This, the Minister said, will make the third reformulated draft of the APNU’s proposed amendments which will be brought before the committee.
In addition, he said, interestingly the tone of the committee has changed, as there is more willingness on the part of the opposition to listen.
“They are listening after they would have discovered that their amendments as proposed are in the original format …they are proving to be extremely troublesome and the practical working out of it has not been properly visualised and contextualised and reformulated.”
In February, APNU submitted two proposed amendments to the Parliamentary Select Committee which have been very difficult. Apart from posing a problem with being drafted, the proposed amendments have been rejected strongly by a wide cross section of Guyanese. (GINA)

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