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Topic: Non-Profit Organisations Bill
The Registrar for NPOs (non-profit organisations) will hold a training session on corporate governance for charitable organisations in the Cayman Islands next week,
It was dismaying to read in your edition of Friday, March 19, that, “it appears lawmakers approved an incorrect, outdated version of the Non-Profit Organisations Bill, 2016, during a Legislative Assembly meeting last fall.”
A legislative mishap has imperiled the enactment of a law regulating nonprofit organizations in the Cayman Islands, legislation considered necessary as the government prepares for an international review of its money laundering and terrorist financing protections later this year.
Cayman Islands lawmakers approved legislation Wednesday that will register and regulate nonprofit organizations, in a bid to prevent such groups potentially being used as cover for illegal activities such as money laundering or terrorist financing. Financial Services Minister Wayne Panton said there were no instances reported locally in which charities were used to such an end.
We can’t help but empathize with the anxiety expressed by several elected members in today’s newspaper over the sheer quantity of legislation the Progressives administration has crammed into the agenda of the new parliamentary session.
Bodden Town MLA Alva Suckoo said legislation proposed to regulate the country’s charitable organizations is going to be a “disaster.” Mr. Suckoo is correct.