Tax-News.Com Archive

Sponsored by: PEARSE TRUST
Independent advice on corporate and trust structures

ARCHIVE ROOT | TODAY'S NEWS | LOWTAX

BVI Lawmakers Agree New Constitution
by Amanda Banks, Tax-News.com, London

10 May 2007

Legislators in the British Virgin Islands have unanimously passed the final draft of the Virgin Islands Constitution Order 2007 following a motion moved by Chief Minister Dr. D. Orlando Smith.

Legislators on both sides agreed, however, that their full acceptance of the new constitution was contingent on the receipt of a satisfactory letter of entrustment from the British Government, which would delegate responsibility in some matters of external affairs to the local Government.

A letter of entrustment will give general authority to the BVI Government to commence negotiations and conclude agreements, whether bilateral or multilateral, in some areas of external affairs.

Members of the Legislative Council commended the Chief Minister, who headed the BVI Constitutional Negotiating Team, for his initiative in taking the process forward and for his leadership during the negotiations.

Attorney Gerard Farara Q.C. and Mr. Elihu Rhymer, who served both as members of the BVI Constitutional Review Commission, and the BVI Constitutional Negotiating Team, were also praised for their contributions.

The Constitutional Commission’s establishment stemmed from a 2001 decision by the British Government to invite UK Overseas Territories to appoint local commissioners to review and make recommendations on the advancement of their respective constitutions.

During the debate this week, most of the legislators expressed their pride and satisfaction that the Territory will attain constitutional advancement.

Several members also agreed that the new constitution will invest greater responsibility and authority in the locally elected officials, as well as the collective responsibility for the people of the Virgin Islands for their own self-determination.

The draft constitution will be now sent to the Privy Council in London for ratification. Once the Privy Council gives its approval, the Virgin Islands Constitution Order 2007 will take effect upon the next dissolution of the Territory’s Legislative Council, no later than July 10, 2007.

.

 


IMPORTANT NOTICE: THE LOWTAX NETWORK has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright THE LOWTAX NETWORK 1999 to 2009. Contact us for further information.