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Guyana will have vastly different AML Bill
…Britain to make submissions
Come October, when Guyana turns up to the Financial Action Task Force (FATF), with the Anti-Money Laundering and Countering the Financing of terrorism (AML/CFT) Bill in hand, it will be a far cry away from the draft presented by the People Progressive Party/Civic Government.
Attorney General, Basil Williams (far right) during meeting with UK, High Commissioner, Gregory Quinn (far left0 and other UK officials.
Yesterday afternoon, Attorney General, Basil Williams, said that the new government will seek to pass the Bill with the same amendments it proposed while in opposition during the Tenth Parliament.
Back then, the submissions were not accepted by a PPP/C Government which needed the then combined opposition’s voted in the National Assembly to pass the Bill.
However, now the table has turned, the A Partnership for National Unity and Alliance For Change (APNU+AFC) government does not need the PPP/C vote to pass the legislation since Guyana no longer has a minority government.
Williams told the media, ”Whereas the former government was dealing with the CFATF and FATF and the Americas Regional Review Group (AARG) in relation to their version of the Bill, our government will be proceeding with the bill we had put in the Select Commit in the last parliament.”
The new amendments to the parent AML Bill will see significant changes to the Financial Intelligence Unity (FIU).
The new government will see that the FIU is removed from under the supervision of the Finance Minister and placed under the supervision of an independent entity which would be determined by the National Assembly.
Williams said that just as it has proposed while in opposition, the government will ensure that the President no longer has the power to hire or dismiss the Director of the FIU. Under the APNU+AFC, that power will be removed from the Executive branch and given to the legislative branch.
When the new Bill is passed the Director of the FIU will get security of tenure. He will then only be fired “through due process, that will have to take up the attention of the (Parliamentary) Committee of Appointments, then it will go to the floor (of the National Assembly).
Also, FIU will no longer be financially dependent on government. “We thought that was really an all government thing and it (the FIU) needed to have independence” said Williams.
The new government is also seeking to introduce criteria for qualifications for the Director and other staff members of the FIU; this was not in place before.
Yesterday the United Kingdom (UK) High Commissioner, Gregory Quinn met with Williams at his Ministry on Carmichael Street, Georgetown.
After the meeting, Quinn told the media that it was the passage of the AML/CFT Bill that was the focus of the discussion.
“This was an opportunity for us to talk through the plan for submitting the legislation to parliament in the next 100 days before recess, and on the sorts of things which we might be able to provide advice based on our own experience,” said Quinn.
He said that from all indications the new government is “committed to the passage of this Bill.”
The UK High Commissioner said that “a country blacklisted becomes significantly more difficult to do business with…and no one wants Guyana to be blacklisted.”
When Williams spoke about the meeting, he said that the UK High Commission indicated that it has no qualms with the amendments that were put forward but High Commissioner Quinn said that his interest in proposing new amendments as well.
Commenting on the nature of proposals to be made, Williams said, “They are designed to be futuristic…so that you would not have to run back to parliament in a short space of time.”
He added, “Our compliance (with international requirements) by the passage of this bill will really be the crux of the matter.”
Williams also said that he has met with Head of the Financial Intelligence Unit (FIU) Paul Geer. He said that Geer was given an update on Government’s intentions regarding the Bill, and that he was apprised “of the need to have a bill passed in time for the FATF meeting is October.”
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