Thursday August 28, 2014 - 8:04 pm | Login

Bayer refutes dismissal

Tom Bayer

Tom Bayer has been quick to refute and challenge the attempted termination of his appointment as a member of the Board of Directors of the Reserve Bank of Vanuatu. This was in response to the statement by the Minister of Finance, Charlot Salawai, earlier this week advising the public that he has terminated Mr Bayer from the Reserve Bank of Vanuatu (RBV) Board of Directors.

Bayer said that the law is quite clear in the matter and the minister has been misled by his adviser(s) to believe something which is totally false and fabricated. The result is public defamation of his reputation which, because the DP is on the internet, will be picked up by search engines world wide.
The minister claims Bayer is the agent of European Bank. Bayer says that is totally false and without substantiation.

“I have never been an employee of that bank. I retired from the board of directors of that bank over 10 years ago, a fact known to the Reserve Bank and to the Financial Services Commission.”

He called upon the minister to produce the evidence of his allegation.

Section 8 (10) (b) of the RBV Act disqualifies a board member if he becomes a director, officer of employee of a company other than the Reserve Bank, engaged wholly or mainly in banking business. “Becomes” means happens after joining the RBV board, not if ever in the distant past was so involved.
Bayer also flatly and totally denied that he “acts as a delegate of any commercial, financial, agricultural, industrial or other interests or receive or accept directions therefrom in respect of duties to be performed under this Act.”

Kely Ihrig, a director of European Bank and head of its operations, confirmed to the Daily Post that Mr Bayer is not a delegate of the bank. She further added that European Bank has no delegates whatsoever.

Tom Bayer noted that the Minister of Finance has made the statement that he was appointed by the previous Minister of Finance.
“I supposed no one would think that the fact that the former Finance Minister was the next day challenging the Prime Minister in a Vote of No Confidence had anything to do with my termination.”

In conclusion, Bayer totally rejects his termination and if the Minister persists in attempting to violate the law, and enforce his attempted termination of his appointment, he will take personal legal action against him.