Margibi County Senator Oscar Cooper
Senator Cooper Files Motion Over Passage Of LISCR Agreement
By Richard Stephens, LINA
MONROVIA, June16 (LINA) - Margibi County Senator Oscar Cooper has filed a motion for reconsideration over the passage of the Liberia International Shipping and Corporate Registry (LISCR) Agreement, requesting that the document be brought back to plenary for open debate.
Addressing legislative reporters Tuesday at his Capitol Building office, the Margibi Senator said it was necessary that the document be re-examined to acquaint members of the Senate with an insight into the agreement.
He disclosed that the agreement was passed into law hastily in violation of the Senate rules which call for the involvement of two-thirds of members of the Senate in the passage of Acts.
Senator Cooper explained that the amendment changed the prior agreement, and as such the Senate should review the prior Agreement in order to determine whether the amendment is in the interest of the people of Liberia.
He added that the Agreement requires that within 12 months of the effective date of the Agreement, the Liberian Maritime Authority (LMA) and LISCR are required to purchase a building to be used as a U.S headoffice of the Liberian Registry.
According to the Agreement, LISCR is to provide US$2 million to the Government of Liberia to cover closing costs real estate Agent fees and related expenses.
Senator Cooper said the US$2 million, which is part of the Agreement, is no benefit to Liberia.
He indicated that the Agreement further provides that not more than 25 percent of the annual net program revenues are to be transmitted on a monthly basis directly to the Liberia Maritime Authority in order to fund the LMA’s budget as approved by its board of directors.
Cooper noted that this provision violates provisions of the Financial Management Act that require all funds due the Government of Liberia to be deposited in the Consolidated Fund of the Government.