GCCI, Attorney General hold discussions on outdated laws, modern legislative framework
See the full statement from the Attorney General Chambers below:
The Attorney General and Minister of Legal Affairs Mr. Mohabir Anil Nandlall SC, MP, yesterday, 12th day of June 2022 met with members of the Georgetown Chamber of Commerce and Industry (GCCI).
The GCCI raised several legal issues for discussion relevant to the commercial sector. The Honourable Attorney General assured the Chamber that the Government is committed to the creation of a modern and flexible legal infrastructure to regulate and cater for the needs of a modern and expanding commercial Guyana. The following areas of law were highlighted and discussed by the Honourable Attorney General:
- the soon-to-be-passed Arbitration Bill, which will lay the foundation for a modern arbitration regime for Guyana and the Caribbean;
- the Deeds and Commercial Registry, in the context of its increasing importance in the growing economic landscape of Guyana, the expansion of its offices in Essequibo Coast and Berbice, and the ongoing digitization and e-transaction efforts in the Registries;
- the soon-to-be concluded Hire Purchase legislation;
- proposed amendments to the Companies Act; and
- the Single Window legislation;
- the Local Content law and regulations; and
- the E-transaction Bill etc.
The Attorney General also discussed several other issues of pertinent importance, including, regulating payment arrangements in the oil and gas sector; making accessing financing in the banking sector easier and a review of dated insurance laws, particularly for operations in the oil and gas sector.
As the GCCI pointed out, this meeting is the first that the GCCI has been able to secure with an Attorney General in over 6 years. Minister Nandlall welcomed the GCCI’s intention to foster a closer relationship with the Office of the Attorney General and assured, that in keeping with his efforts at ongoing dialogue with organisations and the public, such meetings with the GCCI and the membership it serves, will continue to be a regular engagement.