BVI adopts a bill to fight corruption

The BVI is not only actively fighting against the outer problems, connected with the wrongdoings of offshore businessmen having or managing BVI International Business Companies or BVI banking system, but is also actively improving on inner legislation so that neither anyone from the inside nor from the outside could dishonestly influence the BVI Government. The bill for fighting corruption has been adopted. Nobody says that the corruption on the upper level does exist in the BVI, but this preventative bill is aimed in avoiding this possibility in future.

So, the government of the British Virgin Islands has approved this bill. The bill requires that members of the Legislative Council register their financial interests.

Chief Minister Dr. Orlando Smith assumed the bill will increase public confidence in the executive body and noted that the Register of Interests Bill represents a fulfillment of government's measures to promote integrity in public life.

In accordance with this law, a Registrar of Interests will maintain a registry and all members of Legislative Council must annually declare their financial interests in this registry. These financial interests include sponsorships, employment, directorships, clients, overseas visits, gifts received, land and shareholdings.Also, a Standing Select Committee of the Legislative Council will be established for the issues related to the Register.

Some words on the BVI Legislative Council to understand the impact of this new bill:
The BVI Legislative Council is the lawmaking body. It is a part of the British Virgin Islands government consisting of three branches:

• the Executive Council,
• the Judiciary,
• and the Legislative Council.

The Legislative Council of the British Virgin Islands consists if 13 members:
4 of these members are elected territory-wide, the remaining 9 are elected by districts.

The BVI Legislative Council authorizes all public expenditure – both current or capital. The BVI Legislative Council elects a speaker (an unelected person) and a deputy speaker (an elected member) on the government side. Members of the Council are elected for a term of maximally four years or at the pleasure of the Chief Minister who can trigger an election by the dissolution of the Council to form a new Government.