New Constitution provides Greater Autonomy from Britain for Cayman Islands
Tuesday, October 20th, 2009
Voters approved the change in May and British officials endorsed it in June, a new constitution giving the Cayman Islands greater autonomy from Britain will go into effect from Nov. 6.
McKeeva Bush, who is now leader of government business will be the territory’s first premier.
The constitution adds three seats to the 15-member parliament and sets a limit of two consecutive terms for the premier.
20th-century business model, which says business only exists to make a profit, is no longer valid. The new model is to build on the profit goal via sustainable globalization. This means business has to address global challenges in emerging markets like clean water, education, AIDS, and climate change in order to pave the way to growth and profits. Successful businesses in 5 to 10 years will be the ones that recognize this opportunity to address these challenges as a step to leading in emerging markets. Those who don’t will be left behind.”—
The date was set after the 5th Regular Board Meeting approved the regulations and procedures which will govern the operations of the CDF. Among the governance rules and procedures approved were the Appraisal and Disbursement Procedures & Guidelines and the Procurement Procedures. Both of these define the rules related to the CDF’s consideration of requests for grant or loan funding and related procurement activities.
