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Compliance with Financial Regulations Lacks Transparency in British Indian Ocean Territory
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A recent review of the Revised Ordinances and Regulations of the British Indian Ocean Territory (BIOT) has raised concerns over the lack of transparency and accountability in the administration’s compliance with financial regulations.
Lack of Transparency in Legislation Publication
The BIOT Administration’s secretive approach to publishing legislation has been criticized. The revised laws, published in 2020, consolidate original ordinances and regulations together with subsequent changes, but it is unclear whether they amount to a comprehensive revision or only targeted areas. Moreover, the Revised Laws were not publicly disseminated through the official Gazette. Instead, they were obtained from the administration in April 2022 after several prompts to the Foreign, Commonwealth and Development Office (FCDO).
Limited Access to Legislation
Access to BIOT legislation and gazettes is also limited. Only a few copies are available in the British Library for public access. The administration has claimed copyright over each ordinance from 2017 onwards, although it is unclear whether this claim is under UK or BIOT law.
Concerns over Compliance with Financial Regulations
The International Court of Justice’s advisory opinion in 2019 has further cast doubt on the enforceability of BIOT laws. The administration was deemed unlawful ‘ab initio’ under customary international law, raising concerns over compliance with international standards.
Efforts to Increase Transparency
Efforts have been made to increase access to BIOT legislation, including:
- Copies placed online in Zip folders
- A Zotero library created to make it easier for researchers and the public to access information
However, more needs to be done to ensure transparency and accountability in the administration’s financial regulations.
Conclusion
The lack of transparency and accountability in the British Indian Ocean Territory’s compliance with financial regulations raises serious concerns. The administration must take steps to increase transparency and accessibility of legislation, ensuring that international standards are met.