Cabinet announces decisions on laws, standards, money laundering, and labour

Published by BBNTEAM at November 27, 2024

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Posted: Wednesday, November 27, 2024. 9:03 pm CST.

By Aaron Humes: This evening, Cabinet announced that it had approved the establishment of a National Quality Council in the Bureau of Standards to serve as an oversight committee for discussions regarding the implementation of Belize’s National Quality Policy.

The Council will comprise representatives from key relevant sectors involved in standardization, technical regulations, metrology, accreditation, conformity assessment, and market surveillance activities.

Cabinet also approved Belize’s National Money Laundering and Terrorist Financing Risk Assessment Report (NRA) – November 2024. The NRA has been completed to formalize Belize’s ongoing risk understanding and to maintain compliance with the Financial Action Task Force (FATF) Standards. It will guide competent authorities and the private sector in adopting a risk-based approach to mitigating money laundering and terrorist financing risks.

In other news, to modernize Belize’s labour laws to address current and future challenges, the Cabinet approved a proposal by the Ministry of Rural Transformation, Community Development, Labour and Local Government to continue its comprehensive review of the Labour Act by amending the composition of the Labour Review Committee and to update its terms of reference.

Finally, the Cabinet approved the repeal and replacement of the Law Revision Act, Chapter 3 of the Substantive Laws of Belize, Revised Edition 2020, to modernize the system of revising and consolidating the laws of Belize and to make provisions for the review and reform of the laws by a Law Reform Commission.

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