Rushing into danger

Opposition Senator Ramon Small-Ferguson raising concerns about rushing legislation through the Upper House, during Friday’s Senate debate on the Virtual Asset Service Providers (Licensing) Regulations, 2026. OPPOSITION Senator Ramon Small-Ferguson has accused the Government of repeatedly forcing Parliament to scrutinise major legislation under tight deadlines, warning that the rush to meet international obligations risks allowing errors and inconsistencies to pass into law. However, Government Senator Dr Dana Morris Dixon, responding to his concerns, acknowledged that while some of his points were valid, there would have been occasions when urgent legislation was unavoidable. Small-Ferguson raised the concern during Friday’s Senate debate on the Virtual Asset Service Providers (Licensing) Regulations, 2026, which were approved by the Upper House. He argued that the limited time given to senators to examine the 56-page document was inadequate, particularly given the importance of the rules to businesses seeking to enter the virtual asset industry and the Financial Services Commission (FSC), which will regulate the sector. The senator supported the need for Jamaica to regulate virtual asset service providers and meet its international obligations, but insisted that Parliament must be given enough time to examine the details of legislation before approving it. He said the regulations are particularly important because they set out the practical requirements businesses will have to meet to obtain and maintain a licence, including the amount of capital required, the documents to be submitted, and the changes that would need the regulator’s approval. He argued that the time needed to examine the regulations should not be underestimated. “We have to consider whether the requirements are clear, whether there is consistency with the Act itself, and whether what is being set out is actually workable in practise. It’s a substantial exercise, and that examination takes time, it certainly does for me, including time for us to formulate any corrections that we may have, any queries that we may want to put forward, and for the Government to take time to consider whether any adjustments are necessary,” Small-Ferguson said. “I contend that circulating a document days before it is to be taken, if we’re lucky… does not allow for the requisite level of scrutiny that Jamaican people expect of us in this chamber,” he added. He pointed to several previous instances when legislation had been brought to Parliament under tight deadlines, including the National Identification and Registration Bill in 2017 and amendments to the Companies Act in 2023. Small-Ferguson also cited amendments to the FSC Act, the Financial Institutions Resolution, and the recently passed Environmental Protection Levy as examples of legislation that had been brought to Parliament under similar circumstances. He said the Environmental Protection Levy was introduced in the House of Representatives on September 22, brought to the Senate on September 25, and scheduled to take effect on October 1. Government Senator Dr Dana Morris Dixon responding to Opposition Senator Ramon Small-Ferguson’s concern about rushing legislation through the Upper House, during Friday’s Senate debate on the Virtual Asset Service Providers (Licensing) Regulations, 2026. Photos: Naphtali Junior Small-Ferguson also recalled that the Environmental Protection Levy Bill had to be withdrawn and replaced after it was determined that it required certification as a money Bill. The senator acknowledged that governments at times have had to work within demanding timelines but argued that there is a difference between genuine emergencies and situations in which better planning could have prevented a last-minute rush. “The context is relevant, as we must constantly distinguish between genuinely exceptional circumstances where urgency is needed, and circumstances where we could reasonably have avoided a mad rush to a deadline and could have prepared thoroughly,” he said. “The Government should therefore explain why they have left Parliament to consider the Act and the regulations under so much time pressure since, as the minister indicated, work was being done from 2022. So why are we here?” he asked. Small-Ferguson said the Opposition supports Jamaica meeting its international obligations, but wants those obligations fulfilled through a process that allows Parliament to examine and improve the proposed measures. Turning to the regulations themselves, Small-Ferguson identified approximately 15 potential drafting corrections across the regulations, application forms, and schedules. He said some of the requirements appeared to conflict, creating uncertainty for businesses seeking licences and the regulator responsible for enforcing the rules. The senator said the concerns reinforced the need for a more thorough review of the documents before they were approved. He urged the Government to review both the Act and the regulations, and called for a regular legislative agenda to be presented to Parliament, allowing members to prepare for major measures before they are tabled. While closing the debate, Morris Dixon argued that there would have been occasions when Parliament had to move quickly, particularly when regulatory agencies identified the need for legislation to meet a pressing deadline. “It’s a challenging time that we face, and I do believe that the legislative process is often going to have Bills that come to us in a short timeline. That happens, but it’s not the usual, but just noting that there will be, time to time, when we do have to do these things on very tight time frames, and that our entities like FSC will say to us, ‘We have this Bill, we know it’s short, but we need to make this time.’ And so I do think we do have to be flexible in that it should not be the norm,” she said.