Lord Ahmad: ‘BVI must respect will of Parliament’
In a written response to the petition sent to the Foreign & Commonwealth Office (FCO) via Decision March Chairwoman Ayana S. Hull, Lord Ahmad of Wimbledon who is the UK Minister of State for the Commonwealth and the UN stated that “The UK Government would have preferred to work consensually on making registers of beneficial ownership publicly available, but we have to respect the will of the Parliament”.
Any other option for the VI?
Many see this matter as now closed and the VI will be forced to make public beneficial owners unless the VI succeeds in a court of law. This move will essentially kill the VI financial services sector, which accounts directly for 60 cents of every dollar in the Territory’s economy.
The Sanctions and Anti-Money Laundering Bill has since received the Royal Assent and became an Act on May 23, 2018.
Way forward?
The Virgin Islands has said it will only comply when the standard becomes a global one, as now a show down looms between the UK and the VI at a time when the current local government remains weak and ineffective.
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33 Responses to “Lord Ahmad: ‘BVI must respect will of Parliament’”
so you mean I marched In vain dread
Yal better wake up wise up rise up
trust this government.
I say this is the first stage in the fight against corrupt governance.
Crash & burn......now we going spend possibly a cool scarce couple millions on lawyers whom already know it is in the words of the Cuban: "it's a done deal..". Cannot wait to see the register & the nuclear fallout locally - will be quite interesting the massive conflicts of interests these PIRATES have done.
What he failed to disclose is what are the sovereign rights of our people. This territory is no longer in granting aid status and it is clear that it is perhaps where the Lord wants to see us return.The people of this country has the right to determine the way forward economically for its survivability.
What the Lord should have concluded by stating is the hows should the territory maintain its viability after such a decisive blow against one of its pillars.
And since he concluded with no clear path forward for our viabilty, his statements should be taken with a grain of salt and our leaders should choose economies going forward, regardless of the impact that it may have towards the Kingdom and its stated minions, that will sustain, expand, and enhance the continuity of the future-economic and otherwise- of these islands!
Oh, of course they both respect the rights of the rich and the big banks. That has to be.