Senators on Wednesday debated a bill intended to modernize legislation governing the country´s cooperative sector.
It received support from both government and opposition senators, who met for the first time this year.
Currently, over $125 million is outstanding in loans and mortgages from cooperatives and credit unions, according to Government Leader in the Senate Dr. Marcus Bethel.
Free National Movement Leader Senator Tommy Turnquest drew reference to the length of time it took to bring the bill to parliament which relates to the registration, supervision and management of cooperative societies.
The Bill was tabled in the House of Assembly in October 2002, but debate was delayed due to controversy surrounding the proposed piece of legislation.
In June 2003, The Bahamas Cooperative Credit League had planned to demonstrate against the Bill outside the House of Assembly insisting that it was flawed.
“This Cooperative Societies Act has been in the works for many years, drafted by the previous administration and I believe that those persons associated with cooperatives ought to be commended for their work on the development of cooperatives and for their efforts of getting the legislation to this stage,” Mr. Turnquest said.
Dr. Bethel gave a history of the bill and the changes it would bring to cooperative societies.
“The rational for the bill is the existing law is based on 1940´s British colonial legislation…The cooperative movement as a whole has experienced significant institutional changes as well as impressive growth,” Dr. Bethel said, adding that modernizing the legislation would help protect the sector.
“The new legislation is designed to strengthen the internal capability and output of the Department [of Cooperatives].”
The legislation would intensify inspections and the supervision of societies “to improve processes for registering new societies, to introduce a computerized information system, to expand education, training and marketing activities.”
The legislation would provide the cooperative sector with a broader framework for economic activity, according to Dr. Bethel.
There are over 27,000 persons in the country who are members of cooperatives and credit unions, he said.
Mr. Turnquest, meanwhile, blasted the government, stating that the amount of time that the Senate meets is simply ridiculous.
He said the infrequent and unplanned meetings of the Senate are delaying court matters.
“It has been a source of contention [that] the Senate meets infrequently,” he said. “We met in January last year, then again in June and then in December and so the court takes the view that the Senate does not meet often and while this is the Senate chambers the government has allocated that space to the Supreme Court of The Bahamas.”
Refreshments for Senators are set up in the same room where the court meets, but Mr. Turnquest suggested that another area of the building be used for this purpose.
Responding to Mr. Turnquest´s statements, Government Leader in the Senate Dr. Marcus Bethel said that the Senate building belongs to the Senate and the use of the room for Justices of the Supreme Court are done with the Senate´s approval.
“Consequently, the Senate has accommodated a request to house a judge here at a time when it´s convenient to the Senate. The building is designed for Senate meetings and we do inform the sitting judge when the Senate is going to meet,” Dr. Bethel said.
He added that there is no other suitable area in the building to set up refreshments.
Bianca Symonette, The Bahama Journal
