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Appointment on NIS Investment Committee contradicts law

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Appointment on NIS Investment Committee contradicts law

This story was posted 3 years ago
10 March 2023
in Business, Law
2 min. read
New NIS Investment Committee – (L-R): Sheena Regis, Mike Sylvester, Dorsett Cromwell (centre), Osbert Hood, Musa Jasat
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by Linda Straker

  • Committee reconstituted without labour nominating its representative
  • Grenada Trades Union Council objects to manner of employee representative appointment
  • Move is blatant violation and disregard of Section 18 of the NIS Act

Andre Lewis, President of the Grenada Trades Union Council (GTUC) said his organisation objects to the manner in which the Dickon Mitchell Government has appointed the employee representative to the Investment Committee of the National Insurance Scheme (NIS).

“From the establishment of the NIS, the employee representative on the Investment Committee was always nominated by us the Council, but this government has reconstituted the Committee without labour nominating its representative to the Committee,” said Lewis, who is the senator representing the Labour Movement in the Upper House. “We have written to the minister responsible for the National Insurance Scheme pointing out our observation, and we are still waiting.” Lewis sees the move by the Dickon Mitchell administration as a blatant violation and disregard of Section 18 of the NIS Act.

The Act said that there shall be for the purposes of this Act an Investment Committee, which shall consist of 5 members to be appointed by the Minister. The members will be an officer of the Ministry of Finance nominated by the Minister of Finance, which officer shall be appointed chairperson; a member of the Board other than the Director; 2 other members who appear to the Minister to be experienced in finance, accountancy, business administration, industrial relations or some other related subject, one of whom shall represent employers and the other who shall represent the employees; and the Director.

The current Investment Committee members are Chairman Mike Sylvester, Permanent Secretary in the Ministry of Finance; Osbert Hood; Musa Jasat representing Employers; Sheena Regis representing Employees, and Dorsett Cromwell, NIS Director.

“Here we have the law explaining who shall be on the Investment Committee, but right now, the reconstituted Committee as appointed by the Government, does not include a representative from labour to represent employees because the Council did not nominate anyone. No one can claim to be representing employees on the Investment Committee,” he said. “The organisation representing workers or employees was not provided with an opportunity to represent them on the Committee. This is the first time that has happened and we are concerned about that. It’s a violation of the law, which did not say may, it said shall,” Lewis said.

The Investment Committee, according to the Act, shall have the power to give from time to time general or specific directions to the Director, subject to the concurrence of the Board, on the investment of monies in the Fund which are surplus to current needs; and the Director shall give to the Investment Committee any information necessary for the proper discharge of their functions.

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Tags: andre lewisdickon mitchellgrenada trades union councilinvestment committeelinda strakernational insurance scheme

Comments 2

  1. Angus Martin says:
    3 years ago

    I believe that the author should have emphasized that though the Act provides for the appointment of a representative of the “employees” (as it does for employers) and that previous appointments have been with the acquiescence of the labor movement or directly by labor, it does not say that the labor movement has that right per the Act (in reading the article), and thus goes against the claim by Senator Lewis (and the headline) that it contradicts the law. We should try to be as clear as possible and maybe quote directly from Section 18 of the Act if the contention is that it “contradicts law” and “is blatant violation and disregard of Section 18 of the NIS Act.” It is not clear if this is just the view of Senator Lewis or the author. If I am mistaken please point that out to me. Thank you.

  2. Sandy says:
    3 years ago

    No surprise. The two main political parties control the balance of power as they get elected by default.

    NDC gets elected= it’s our time to break laws and fill our pockets

    NNP gets elected = it’s our time to break laws and fill our pickets

    …and the viscous cycle continues…

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