GOLDING - file

Government is contemplating the establishment of a community land-titling programme, to enable persons who own land, but do not have titles, to use this asset when seeking credit from financial institutions.

This disclosure came Wednesday when Prime Minister Bruce Golding met with representatives of the Jamaica Co-operative Credit Union League (JCCUL), at Jamaica House, St. Andrew. Mr Golding said there were thousands of Jamaicans who have assets which cannot be used for (credit) transactions and, therefore, people sitting on land who are for all intents and purposes poor. This because they are not able to walk into an institution and say they have an asset which can be used as collateral.

The Prime Minister said this programme would also enhance land-titling efforts that governments over the years have sought to address.

Some success

"Governments have been trying to deal with the matter of land titles, trying to facilitate the generation of titles. That has had some success, but the volume of success is not commensurate with the extent of the need that exists out there," he stated.

The titling initiative will focus on persons who have land over which there is no dispute of ownership.

Notices will be published, encouraging all persons who have interest in the property to come forward, and evidence of ownership from the community will be taken into account.

This process, the Prime Minister said, will be the basis on which a submission is made to the Registrar of Titles, to initiate the process of titling. Following this initial step, the person seeking a title, will have to go through the normal follow-up processes.

Fee will be charged

In addition, Mr. Golding noted that a fee will be charged and a part of this sum will be deposited into a special fund. This fund will allow for any necessary compensation to be made, in the event that following the presentation of a title, another individual claims ownership of the land.

Meanwhile, Mr. Golding has asked Minister without Portfolio in the Ministry of Finance and the Public Service, Don Wehby, to meet with the JCCUL to address concerns regarding new regulations to the Bank of Jamaica Act, and to provide some directives to the BOJ on the matter.

JCCUL President Yvonne Ridguard expressed concern that the amended regulations do not take into account, the overall Cooperative Societies Act.

"We think the overall legislation should be looked at - the amendment of the Cooperative Societies Act, in tandem with the intended regulations," she said.

Ms. Ridguard added that the major issue is the place that the league will hold in the regulations, because "the league is a very special creature and, in fact, that's what drives the movement."