Judges need specialized training to handle contracts oils – Former CFAFT Executive

May 05, 2019 News

OWING to the complexity of oil contracts, judicial officers particularly judges will need to undergo training specifically to understand the terms and conditions governing such arrangements.

Former Executive Director of CFATF Calvin Wilson

Addressing media operatives at a training session at Cara Lodge, yesterday, Former Executive Director of the Caribbean Financial Action Task Force, (CFATF) Calvin Wilson noted that language of oil contracts are not necessarily the same as other contracts
During a PowerPoint presentation, Wilson noted, “For these contracts, the country or jurisdiction must have a sound legal system.
“If the legal system is not strong then when contracts need to be resolved in court and the court isn’t prepared to deal with these issues then there will be problems. So, it would be useful for the judges to become familiar with the complexities of oil contracts.”
In anticipation of new matters which will arise from the emerging Oil and Gas sector, Minister of State, Joseph Harmon, was among those who acknowledged that local judges will require capacity-building exercises so that they can be able to effectively handle the legal issues that may arise from a complex oil and gas industry which Guyana is currently preparing to be a part of.
Harmon had asserted that “our judges are trained in the law, but there are some specific issues which would arise from this area of development and clearly our judges, I am sure, would adjust to it.”
Harmon added, “The judicial officers are also benefitting from training locally and abroad…And more of this is taking place.”
Last year, members of the local judiciary embarked on a capacity building workshop that focused on the regulatory framework of the industry in the Caribbean.
The initiative was spearheaded by acting Chancellor of the Judiciary, Justice Yonette Cummings-Edwards, who noted that the workshop is intended to build Guyana’s judicial preparedness to deal with matters related to the Oil and Gas sector.
Justice Cummings-Edwards disclosed that under this year’s theme “the Role of Guyanese Judiciary in the Evolving Juridical Landscape,” Judges were enlightened on the fundamental legal concepts in the Oil and Gas industry.
The Conference also encompassed presentations on the evolution of petroleum laws in the Region, and issues to be dealt with such as review of concessions agreement, and the increasing equity and revenue of governments; new tax regulations under the Oil and Gas Sector; the sovereignty independence, socialism and nationalism of the Oil Industry as well as expropriation and Organization of Petroleum Exporting Companies (OPEC).
The Chancellor noted that systems are already in place to handle expeditiously matters of the emerging sector.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News