The National Assembly last night passed a bill which will see the Bank of Guyana (BoG) taking over the functions of the Commissioner of Insurance (CoI).
The Insurance (Supplementary Provisions) Bill 2009 was read for a first time last week in Parliament.
The bill’s explanatory memorandum said that it seeks to pave the way for the BoG to administer the Insurance Act “and for a person nominated by the Bank to be appointed by the court as judicial manager”.
The bill was supported by the government and the PNCR-1G but the AFC walked out. (See more in tomorrow’s edition.)
