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VI’s legal luminaries for ‘rap-session’ on ‘public registers’ woes

‘Lecture Series’ coordinator, HLSCC’s President, Dr Janet B. Smith. Photo: VINO/File
Queens Counsels, (from left) Gerard St. C. Farara—Senior Partner at Collas Crill—Mrs R. Dancia Penn OBE, QC, Managing Partner, Dancia Penn & Co, and Mrs Lorna G. Smith, OBE, Interim Executive Director, BVI Finance Limited. Photo: HLSCC
Queens Counsels, (from left) Gerard St. C. Farara—Senior Partner at Collas Crill—Mrs R. Dancia Penn OBE, QC, Managing Partner, Dancia Penn & Co, and Mrs Lorna G. Smith, OBE, Interim Executive Director, BVI Finance Limited. Photo: HLSCC
HLSCC’s public lecture, seeks to “engage international and local experts on relevant topics, offering a rich and stimulating environment for the understanding and exchange of ideas on subjects that are critical to the future of our community.
HLSCC’s public lecture, seeks to “engage international and local experts on relevant topics, offering a rich and stimulating environment for the understanding and exchange of ideas on subjects that are critical to the future of our community." Photo: HLSCC
PARAQUITA BAY, Tortola, VI - The United Kingdom’s (UK) Sanctions and Anti Money Laundering (S/AML) Bill, has been met with a defiant Virgin Islands (VI)—a UK Overseas Territory (OT)—but many residents are unclear on the specific implications and consequences of the decision.

As such, some local Legal luminaries are attempting to build a more informed domestic population, through a public ‘Lecture Series’ organised by H. Lavity Stoutt Community College (HLSCC).

OTs Challenge

According to ‘Lecture Series’ coordinator, HLSCC’s President, Dr Janet B. Smith, the activity scheduled for this Thursday, June 21, 2018, “is intended to provide greater clarity on the recent amendment to the UK’s, S/AML Bill, which requires OTs including the British Virgin Islands to establish public registers of the beneficial owners of companies incorporated in their respective jurisdictions.”

The panelists will include eminent Virgin Islander, Queens Counsel, Gerard St. C. Farara—Senior Partner at Collas Crill—Mrs R. Dancia Penn OBE, QC, Managing Partner, Dancia Penn & Co, and Mrs Lorna G. Smith, OBE, Interim Executive Director, BVI Finance Limited.

The panelists will be moderated by Mr Kedrick E. Malone, Former Director of the BVI London Office & UK/EU Representative for BVI.

The amended UK legislation passed in the British House of Commons, approved by the House of Lords and assented to by Her Majesty the Queen, is being challenged by the VI and other OTs, Cayman Islands and Bermuda.

Questions!

HLSCC’s President Dr Smith, who announced the Lecture Series in a recent public statement, said the OTs challenge, “is based on a number of legal, constitutional and moral positions, including constitutional overreach, violation of human rights, breach of the constitutional right to privacy and bias against the OTs as the UK Crown Dependencies (CDs) are exempted from the decision.”

President Smith noted that many questions have since arisen in the aftermath of the amended legislation.

“Questions such as, - What is a public registry? How does the BVI Registry compare to the UK’s? Is the decision to pass the legislation constitutional overreach? Does it violate the constitutional right to privacy? Are there differences in the constitutions of the OTs? Should the BVI Constitution be amended to avoid this type of occurrence in the future? How does this affect the financial services industry? What is the impact on BVI Government revenues? How strong is the Government case to fight the decision?”

Concerns

She said the panelists will address these and many other concerns, as they speak on the subject of public registers.

The June 21, 2018 Lecture Series is scheduled for 5:30 PM at the VI International Arbitration Centre, located on the third floor of Ritter House. The event is free to the public.

According to Dr Smith, the College’s public lecture, seeks to “engage international and local experts on relevant topics, offering a rich and stimulating environment for the understanding and exchange of ideas on subjects that are critical to the future of our community.”

 

8 Responses to “VI’s legal luminaries for ‘rap-session’ on ‘public registers’ woes ”

  • 123 (18/06/2018, 10:13) Like (2) Dislike (2) Reply
    much of the same
  • question (18/06/2018, 10:36) Like (0) Dislike (3) Reply
    Growing up if my memory serve me right we were referred to as CD, when did we become and OT and if we were an CD who made the decision to change OT.
    • nope (18/06/2018, 17:24) Like (1) Dislike (0) Reply
      The bvi was never known as a CD it was a british colony at first then changed into a british dependency then into an OT
  • 321 (18/06/2018, 10:42) Like (2) Dislike (1) Reply
    ill legal 'luminaries'. they protected the bad people and local entities here in the BVI from consequences.
    they protected bad banks and misdeeds from being righted. they are full of it. should all have to pay
    billions. double dealing lawyer slime.
  • MissingQuestion (18/06/2018, 12:02) Like (5) Dislike (0) Reply
    Question:
    How did the BVI get such a bad reputation around the world for being a place where dirty money is made invisible?
    Not asking if it's true, or anything about BOSS or other recent measures that now make us cleaner than most.
    Am asking because people need to know why the world hates us for this when inside the islands, everyone tells us the whole world is wrong and we are squeaky clean.
    Please explain the discrepancy.
  • Alternative (18/06/2018, 13:09) Like (10) Dislike (2) Reply
    Why are these people wasting there time debating the inevitable? If they were bright, they would be expending there energies in developing new products, industries and the economy. Short of ideas.....move on!
  • yrral (18/06/2018, 21:10) Like (2) Dislike (0) Reply
    Laundering money is the biggest threat to free society,in America you cannot open bank account without a valid ID and fill out the proper paperwork at least the British are taking the first step
  • BAMBOOZLED (18/06/2018, 22:22) Like (0) Dislike (0) Reply
    This is the type of hypocrisy that European indoctrination has led us to believe is morally acceptable. When it comes to DIRT Europe takes the cake. They are the ones who have corrupted the world to the point of destruction, all the while portraying themselves as our Lord and Savior. It is time to come out from among them...there is nothing good for us.... take off your blinders and look at the post hurricane strategy they have implemented...can it be any clearer what their intentions are...BVI just don't get it... There is more to come mark my words.


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