ROADTOWN Tortola BVI, December 22nd, 2011 – The Deputy Governor’s Office held a meeting with members of Non-Profit Organisations (NPOs) and Non-Financial Gain Organisations (NGOs) yesterday to discuss a mandatory legislation that will affect all charitable organisations.

The meeting was held in collaboration with the BVI Financial Services Commission, Financial Investigation Agency, Department of Trade and Consumer Affairs, Attorney General’s Chambers and Members of the Joint Anti-Money Laundering and Terrorists Financing Advisory Committee.

Permanent Secretary in the Deputy Governor’s Office, Mr. David Archer explaining the purpose of the meeting to the Department of Information and Public Relations said, “The Financial Action Task Force (FATF) Special Recommendation VIII (SR VIII) obligates all countries to review the adequacy of their laws in relation to NPOs/NGOs, which can be used and abused for terrorist financing purposes.

Appropriate measures have to be put in place in order to deter terrorist organisations from posing as legitimate NPOs/NGOs or from using and abusing legitimate NPOs/NGOs for terrorist purposes.”

The Permanent Secretary added, “When the BVI’s Anti-Money Laundering – Combating the Financing of Terrorism (AML/CFT) regime was assessed by the Caribbean Financial Action Task Force (CFATF), the Territory’s NPOs/NGOs regime was evaluated to be not at the desired level, evaluating the Territory with a rating of “partially compliant”.

“The report clearly identified, that there was no dedicated register of NPOs/NGOs in the Territory and no oversight authority with the mandate to supervise NPOs/NGOs for AML/CFT compliance, both of which are considered critical elements of the standard,” Mr. Archer explained.

The Attorney General’s Chambers will be drafting legislation, which will define how NPOs/NGOs should operate in the Virgin Islands. The proposed content of the legislation was discussed in detail with the charitable organisations and the feedback obtained will assist the Attorney General’s Chambers in finalising the legislation.

Yesterday’s meeting was the first in a series of talks with stakeholders to discuss the mandatory legislation, the Territory’s partial-compliance and to garner feedback.

NPOs/NGOs are defined as not-for-profit/non-financial gain organisations that have a board, and have members that collect donations and membership fees, or that trade goods or services in exchange for money, goods or services.

Examples of these organisations are service organisations such as the Rotary Clubs, Lions Clubs and Virgin Islands Search and Rescue (VISAR); country organisations such as the Jamaican and St. Kitts/Nevis associations; churches, church organisations such as the Girls’ and Boys’ Brigades and sporting and athletic organisations such as the BVI Football and Basketball associations.

Anyone having questions, concerns or feedback about the subject, are asked to contact Mrs. Franka Potter in the Deputy Governor’s Office by e-mail at fpotter@gov.vg or by telephone at 468-3701 ext. 3927. The Deputy Governor’s Office is committed to ensuring that good governance, national security and justice are priorities within the Virgin Islands.

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