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Former Central Bank Governor calls for proper Legislation to govern Heritage and Stabilization Fund

Former Deputy Governor of the Central Bank, Dr. Terrence Farrell believes that there must be a review of the legislation that governs the Heritage and Stabilization Fund.

He said that in its current form the legislation makes little or no reference to providing for the generations to come.

Dr. Farrell who is also Chairman of the Economic Development Advisory Board was speaking at the Lloyd Best Institute Professional seminar of the Heritage and Stabilization Fund held at Cascadia Hotel on Wednesday.

He opined that the current Fund needed to be separated into two parts with specific regulations to govern the Heritage aspect of the Fund.

He maintained that the controller of the Heritage component of the Fund should be the House of Representatives.

Former Deputy Governor of the Central Bank, Dr. Terrence Farrell

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