The regulation and supervision of Dealers in Precious Metals (Licensed Gold Dealers) are governed by several key pieces of legislation, particularly relating to licensing and Anti-Money Laundering/Combating the Financing of Terrorism and Proliferation Financing (AML/CFT/CPF) obligations.
The primary governing laws are the Guyana Gold Board Act, Chapter 66:01, and the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act No. 13 of 2009. Additionally, the Guyana Gold Board (Dealers) Regulations No. 4 of 1997 serves as a critical piece of subsidiary legislation, outlining the requirements for obtaining a Dealer’s Licence (Authorization to Possess, Sell, or Export Gold) and the framework for supervisory oversight.
The AML/CFT Act of 2009 has undergone several amendments over the years to strengthen the legal and institutional framework in line with international standards. These enhancements are reflected in the following legislative updates:
In addition to legislative amendments, several subsidiary regulations have been implemented to support and expand the provisions of the AML/CFT Act:
