Rosemarie Flax nominated to chair BVIEC Board
This is according to the Order Paper for the First Sitting of the Second Session of the Fourth House of Assembly scheduled for Thursday, November 14, 2019.
According to the Order Paper released to the media today, November 13, 2019, the Premier and Minister of Finance, Hon Andrew A. Fahie (R1) will move the motion: “WHEREAS section 4(1)(a) of the British Virgin Islands Electricity Corporation Ordinance, Cap. 277 provides that the Corporation shall consist of a Chairman appointed by the Cabinet after prior approval for the appointment has been obtained by a Resolution passed by the House of Assembly;
“WHEREAS section 40(4)(a) of the Interpretation Act, Cap. 136 provides that an authority or person empowered by or under an enactment to appoint or designate a person to be a member of a statutory board or to perform any other functions, may appoint or designate a person by name, and it shall be the duty of the person appointed or designated to perform the respective functions accordingly;
“AND WHEREAS the Cabinet has nominated Mrs. Rosemarie Flax for appointment as Chairman of the British Virgin Islands Electricity Corporation for a period of three years with effect from 15th November, 2019; NOW THEREFORE, BE IT RESOLVED that the House of Assembly of the Virgin Islands approves the appointment of Mrs. Rosemarie Flax as Chairman of the British Virgin Islands Electricity Corporation for a period of three years, with effect from 15th November, 2019.”
Mrs Flax, the wife of former legislator Mr Keith L. Flax, has over four decades of experience in the financial services industry, many of which were in a managerial capacity.
The last BVIEC Chairman of the Board of Directors was Mr Ron R. Potter whose appointment was approved in the House of Assembly on November 19, 2013. He had replaced Mr Allan Parker, who had resigned from the post.
New policy regarding Board Members
It was in the House of Assembly on Friday, May 17, 2019 that Minister for Transportation, Works, and Utilities, Hon Kye M. Rymer (R5) had expressed that it is the position of the new administration that the tenure of any board member should not go beyond the term of any sitting government.
“This is a new policy being implemented by this government.” Hon Rymer had said in responding to questions posed by Opposition Member and Third District Representative, Hon Julian Fraser RA.
The BVIEC Board was one such entity affected by the new policy.
“As it relates to the board members of the BVI Electricity Corporation, the Cabinet of the Virgin Islands approved the revocation of the appointments of most of the members, which is in the process of being rectified to include all members,” Hon Rymer explained.
He said the Board of the BVI Electricity Corporation was revoked in accordance with Section 5 of the BVI Electricity Corporation Ordinance, Chapter 277 of the Laws of the Virgin Islands.
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33 Responses to “Rosemarie Flax nominated to chair BVIEC Board”
Mrs Flax headed up Mossack Fonseca's operations here in BVI. The FSC ultimately fined Mossack Fonseca $440,000 for regulatory breaches, the largest fine they have ever given. The impact of Mossack Fonseca's wrongdoings, which came to light through the "Panama Papers" has directly impacted the core driver of the BVI economy, company incorporations, which suffered a significant downturn as a direct consequence. The damage done to BVI internationally was considerable and the industry has not, and will likely, never fully recover. That is dollars and cents which could have gone toward schools, roads and healthcare for BVIsanders.
How many years after she retired Mossack was fined?
When she was there BVI was riding high on her success. She had such a good reputation with the international industry that When she left the industry started declining from then.
Stop being envious . She is capable and well respected. Envy will kill you.