August 23 deadline for procurement regulator

This information was outlined in a paid advertisement published in yesterday’s Newsday. The person who will fill this post must have a minimum of ten years experience in matters relating to procurement.

This person must also have a degree from an accredited university, “in a field relating to finance, economics, law or accounting or an equivalent professional qualification in accounting.” The Office of the President said the Office of the Procurement Regulator must act at all times, “in an objective and non-discriminatory manner.” The powers of the regulator’s office include conducting audits and periodic inspections of public bodies to ensure compliance with the Public Procurement and Disposal of Public Property (Amendment) Bill 2016. The regulator’s office is also mandated to establish a database called the “Procurement Depository.” The purpose of this database is to allow suppliers or contractors to submit information, such as their qualifications and experience to the regulator’s office. The Board of the Procurement Regulator’s office must meet at least once a month or as often as required to effect its business.

The Regulator will be appointed for a five year term and is eligible for re-appointment.

However the Regulator cannot serve more than two consecutive terms.

Members of the Board are appointed by the President after consultation with the Prime Minister and the Opposition Leader.

This exercise is in keeping with the provisions of the bill which was passed in the Senate and in the House of Representatives on February 7 and on March 3, respectively.

The bill was assented to on March 13.