With the window of opportunity rapidly closing for Guyana to comply with the recommendations set out by the Caribbean Financial Action Taskforce (CFATF) before it attracts greater sanctions,Wholesale NFL China Jerseys, Financial Analyst, Christopher Ram, is suggesting that the nation scrap its existing legislation and adopt the one existing in Barbados.Financial Analyst, Christopher RamAccording to Ram, there are deficiencies and constitutional inconsistencies in Guyana’s existing Anti Money Laundering and Countering the Financing of Terrorism Act.Ram made the call through his chrisram.net media outlet and said that the Barbados 2011 legislation fully complies with all the recommendations of the Financial Action Task Force.“That Act also avoids the several fundamental objections to Guyana’s 2009 Act and proposed 2013 amendments. Of course, the Barbados Act would require certain amendments in respect to other legislations that are to be amended.”Ram suggested also that there should be three substantive amendments: the first dealing with the appointment and removal of the Executive Head, bringing these under the Public Accounts Committee (PAC) or the Public Service Commission; bringing the National Procurement and Tender Administration under the Anti-Money laundering Authority referred to in the next paragraph; and third, requiring reporting to the National Assembly direct as in the case of the Auditor General’s Report.According to Ram, the Barbados legislation establishes an institutional mechanism, whereby the responsibility for maintaining oversight of the national Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) framework, lies not with a single individual but with an Anti-Money Laundering Authority (AMLA).Under that arrangement, the AMLA is made up of eleven members,Air Max 98 Gundam Release Date, drawn mainly from the key public sector agencies that relate directly to anti-money laundering activity.“The executive functions of the Authority are carried out by the Financial Intelligence Unit (FIU) which is headed by the Director and comprises of other public officers.”Ram suggested that Guyana should also seek technical help from Trinidad and Tobago and Barbados to assist in formulating and executing a strategy to exit its present CFATF status.“I had suggested several months ago to seek assistance from Trinidad and Tobago which was in a similar predicament some years ago.”According to Ram, the President, the Government and the National Assembly must agree on an unambiguous timeline to operationalize key institutions such as the Public Procurement Commission, the Integrity Commission,Authentic Atlanta Falcons Jersey, the Ombudsman, the Local Government Commission, the Ethnic Relations Commission and the naming of a date for Local Government elections.He said too, that as it relates to the insistence by the Government to have a no-objection condition inserted in the Procurement Act would be a violation of Article 212 FF of the Constitution of Guyana. “This requires that political interference be eschewed in relation to Commissions and to minimise the influence of the executive and maximize public perception of impartiality in the operation of the commission.”Ram said that for those uncomfortable with the adoption of a Barbados-model legislation, “I would remind them that the Barbados Companies Act 1982 was a principal influence on the Companies Act 1991 of Guyana and that the Barbados Act was itself modelled after the Canadian Business Corporations Act.”Ram,Cheap Jerseys Outlet, in his analysis of the predicament Guyana is placed in,Marlon Humphrey Jersey, reminded that the decision by the CFATF is a direct consequence of the failure by the National Assembly of Guyana to pass the amendments to the Anti-Money Laundering and Combating the Financing of Terrorism (Amendment) Bill 2013.He said that making the case for the Government, its spokespersons simply state that the amendments are what the CFATF has called for.Opposition parties and civil society have expressed concern not only about the proposed amendments, but about some of the provisions in the principal Act.Among the objections raised are provisions that are claimed to be in violation of the Constitution, the absence of a strong executing authority and the role of political operatives in the administration of the Act.In his argument for the adoption of the Barbados model,Wholesale NFL Jerseys, Ram said that “having reviewed a sample of the regional statutory framework, I am satisfied that there is no single model which the CFATF prescribes for meeting the requirements of the Forty Recommendations and Nin