The Parliament declined the justified remarks of the President on the Draft Organic Law on the National Bank; MPs approved the initial version of the Draft with 82 votes.
The necessity of amending the Law was elucidated by the Chair of the Budget and Finance Committee, Paata Kvizhinadze.
As he notes, the current edition of the Law envisages one of the Vice-Presidents of the NB to be the acting President in the absence of the President, however, the Law fails to specify which Vice-President shall assume the hereof authority; while the Draft developed by the Majority assigns the First Vice-President to be the acting President in his/her absence.
As Kvizhinadze estimated, no arguments were submitted by the President clarifying her position against the introduction of a new position or what the potential risks and threats are that may be caused by the position of an executive subject.
Pursuant to paragraph 2, Article 46 of the Constitution, the justified remarks were submitted by the Parliamentary Secretary of the President, Giorgi Mskhiladze. He elucidated the reason for the President’s not signing the document, and said that the introduction of a new position of the First Vice-President of the NB is not necessary since the NB President has three Vices.
