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Banking Regulation Updates in South Georgia and South Sandwich Islands Aim to Strengthen Financial Stability

The Government of South Georgia & the South Sandwich Islands has announced a series of updates to its banking regulations, designed to ensure that local banks operate in accordance with international best practices. This move aims to enhance financial stability and promote sustainable economic growth.

Amateur Radio Licenses Update

Following a period of public consultation, the government has finalized and approved a policy for issuing amateur radio licenses using the Wireless Telegraphy Ordinance Cap 78. This initiative is expected to promote the use of amateur radio services in the territory.

Marine Biosecurity Project

South Georgia & the South Sandwich Islands has joined forces with other UK Overseas Territories to protect their marine ecosystems. The government has established a marine biosecurity project with the South Atlantic Environmental Research Institute (SAERI) to prevent the spread of invasive species and safeguard the territory’s unique biodiversity.

Environmental Protection Efforts

In another development, the government has prohibited the use and carriage of heavy fuel oil through its maritime zone by 2020 as part of efforts to reduce pollution and protect the environment. This move is expected to have a significant impact on reducing the territory’s carbon footprint.

Amateur Radio Licensing Framework Review

The territory has been working to strengthen its amateur radio licensing framework following a review of responses to a consultation period. The review revealed that South Georgia & the South Sandwich Islands (and the British Antarctic Territory) was not covered by the provisions of the Falkland Island Communications Regulator, prompting the need for revalidation.

New Stamps and Marine Protection Zone

In addition, the government has released a new set of definitive stamps featuring iconic images and stories of restoration and hope. These stamps represent an important part of the territory’s identity and cultural heritage.

South Georgia & the South Sandwich Islands has also congratulated Tristan da Cunha on the establishment of its new marine protection zone, joining a growing list of UK Overseas Territories committed to protecting their waters.

“From the Air” Stamp Set

The government has released a new stamp set, “From the Air”, which gives a unique perspective on the territory’s stunning landscapes and wildlife. This stamp set showcases the beauty and diversity of South Georgia & the South Sandwich Islands.